Bankruptcy Credit Counseling: Helpful or Another Hurdle?

July 20, 2010 - PRLog -- Prior to filing a bankruptcy, people have to take what is called a Credit Counseling Course and receive a certificate of completion. Some find this very helpful as others deem it as mundane.

Congress intended that Debtors are educated in the process of bankruptcy prior to filing their case. In short, Congress devised a course that Debtors must complete in order to make a Debtor aware of his or her financial affairs before seeking bankruptcy relief.

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Some people that take this course find it helpful and informative, whereas others do not understand the necessity of the course and are more confused about the process of bankruptcy after having taken the course.

Therefore, is credit counseling helpful, or is it another hurdle that Congress has placed in the way of bankruptcy relief? Some cynics may claim that this is another way to generate money for the credit counseling services that support debt management and reorganization without having to file a bankruptcy. However, others would claim that a Debtor must be made aware of all options unrelated to bankruptcy, before making the choice to file.

Either way, credit counseling is a requirement, like it or not. Therefore, if bankruptcy is the option you choose, make sure to have your course completed prior to filing, with little or no complaint.

Love is a wonderful thing, finding that right someone can just make life feel so right. As we get older this may not be the first marriage of either one of you, which on a whole no big deal. Your paying child support and she receiving it or vice versa. You both have some bill either cars or credit cards but putting your money together your paying the bills.
But then one of you gets served for a credit card non-payment, the spouse says but my ex was to pay that. Which in a perfect world the ex-spouse would have paid it and you would have never heard from the credit card. This card does have your name on it and it was used during the marriage. The divorce means nothing to the credit card you are on the debt you owe it.
Filing a bankruptcy is a thought because you don’t have the 25 thousand dollars they are wanting. You go talk to a bankruptcy firm to find out what to do. Your new spouse’s income counts as yours and that puts you to were you make too much money to be able to just discharge the debt in a chapter 7. You have to pay it back through a chapter 13. Life is not so wonderful now.
The number one reason people file a bankruptcy is a divorce and the number one reason a person should file a bankruptcy is a divorce. That divorce decree does not really make you not responsible for any of the debts that were incurred during that marriage. The only way is to pay all debts off or file the bankruptcy and discharge the credit card or surrenderer the house or car so if that spouse does not pay for it you will not either or your new spouse.
So again pull their Credit before you do get married.

For more information visit http://www.bankrupcy-alternative.com/filing-bankruptcy-af... or call us directly. Here is another bankruptcy article http://www.prlog.org/10806958-bankruptcy-adding-creditors... and here is another http://www.prlog.org/10804330-bankruptcy-the-fair-collect... for your reading enjoyment.

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