What To Know About Credit Counseling

If you are seeking help with your finances this year, or are preparing to file for bankruptcy chances are you will be completing a credit counseling course. Most people are unaware of credit counseling or the benefits they can offer, until required to complete a credit counseling course. Let’s take a deeper look into what credit counseling is and how it can help.

More About Credit Counseling

When a debtor files for bankruptcy, they will be required to complete a credit counseling course. This became mandatory when the Bankruptcy Code made revisions in 2005. The idea was to better assist consumers in managing their future finances through additional education and instruction on financial strategies. It has been shown that these changes have helped improve the likelihood of future financial success. While many bankruptcy cases are brought about through unforeseen financial hardships, a credit counseling course can still provide help with becoming a better money manager for the future. Learning new strategies to improve our budgeting skills, boost our savings, and make better use of our credit accounts is something we all could use a little help to achieve.

Making It Work For You

If you chose to file for bankruptcy, your Houston bankruptcy lawyer will be managing the ins and outs of the bankruptcy case with the court. However, you will be responsible for attending the 90 minute course and providing your completion certificate to the court within the 180 days prior to your filing. Many bankruptcy lawyers offer credit counseling courses at their agency. It is important to note that not all credit counseling agencies are alike. In fact, it is recommended that you  find a reputable agency to provide your training rather than using a search engine to locate an agency. This will help ensure you work with a reputable agency. You can find a list of approved credit counseling agencies by visiting: http://www.justice.gov/ust/eo/bapcpa/ccde/cc_approved.htm