Mandatory Credit Counseling Requirement

One of the requirements of the 2005 Bankruptcy  Abuse Prevention and Consumer Protection Act is that any debtor filing for Chapter 7 or Chapter 13 bankruptcy complete a credit counseling class.  According to the United States Bankruptcy Court for the Northern District of Texas § 109(h) of the Bankruptcy Code requires that all individual debtors who file for bankruptcy relief on or after October 17, 2005, receive a briefing that outlines the available opportunities for credit counseling and provides assistance in performing a budget analysis.

The consumer may choose from a list of approved courses in their area and must receive certification prior to obtaining a discharge.  This class also aides debtors in preparing a budget and general financial management.  Bankruptcy can be a daunting task without the proper counsel.  The Fears | Nachawati Law Firm boasts years of experience dealing with cases such as yours.  Contact the firm today for a consultation.