Bankruptcy credit counseling is the latest requirement in the new bankruptcy law which is effective from October 17, 2005. The bankruptcy abuse prevention and consumer protection act of 2005 needs court approved bankruptcy credit counseling which should be completed by the debtors and this should be done prior to filing bankruptcy within 180 days after filing bankruptcy petition.
This new requirement of the credit counseling which should be done prior to filing bankruptcy can be completed by phone credit counseling, internet credit counseling, court approved bankruptcy credit counseling and group or individual credit counseling. According to this new law, the U.S. trustee office will be responsible for approving bankruptcy credit counselors. The U.S trustee office can even approve a non profit budget and provide you a personal bankruptcy lawyer for handling your bankruptcy case.
The new bankruptcy laws has even made the filing bankruptcy more difficult. It was fueled by many lobbyist and credit card companies who just wanted to make it harder for the debtor to wipe off their credit card debts. Bankruptcy credit counseling has been considered by many bankruptcy attorneys as an attempt for delaying their debtors from seeking protection in the court. The delay will allow the creditor to collect the garnishment funds.
Many business bankruptcy lawyers and other general lawyers are finding that the telephonic method of counseling is the easiest method for the debtors and it can be completed in about an hour or so. The amount which any bankruptcy credit counseling agency can charge depends on the law. But, as a rule, no bankruptcy credit counseling agency can charge more than $50 for credit counseling. Once the bankruptcy credit counseling sessions are completed, the debtors will provide them the completion certificate from the agency.
This credit counseling course is required for all types of bankruptcy including chapter 13 bankruptcy and other bankruptcies.
Fill Up Small Application form for free bankruptcy credit counseling
Published at: Articlicious Article Directory – http://articlicious.com
DISCLAIMER: All information, content, and data in this article are sole opinions and/or findings of the individual user or organization that registered and submitted this article at Articlicious without any fee. The article is strictly for educational or entertainment purposes only and should not be used in any way, implemented or applied without consultation from a professional. We at Articlicious do not, in anyway, contribute or include our own findings, facts and opinions in any articles presented in this site. Publishing this article does not constitute Articlicious's support or sponsorship for this article. Articlicious is an article publishing service. Please read our Terms of Service for more information.
This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php
Five Filters featured article: Beyond Hiroshima - The Non-Reporting of Falluja's Cancer Catastrophe.
No comments:
Post a Comment