The Credit Counseling Requirement


“She generally gave herself very good advice, (though she very seldom followed it).” ― Lewis Carroll, Alice’s Adventures in Wonderland & Through the Looking-Glass.

Since 2005, anyone who files a bankruptcy must satisfy a credit counseling requirement. This is nothing to be nervous about; it boils down to taking two credit counseling “courses.” Many companies offer these courses, and your bankruptcy attorney will recommend one to you that is appropriate for the district where you are filing bankruptcy.

The first course must be completed before you are allowed to file bankruptcy (with a few limited exceptions). The course I recommend to my clients costs from $9.95 to $29.95 depending on how it is done. It can be taken online, by email, or by telephone. It is a very easy course that doesn’t take much time.

The second credit counseling course must be completed before the bankruptcy is finished. I recommend that it be completed in the first month after filing the bankruptcy petition. The course I advise my clients to take costs $7.95.

It’s important to remember that these “courses” are not like taking a test. They are not graded, and there is no way to fail the class. A person just needs to be honest and provide basic information about their budget. A credit counselor offers a few suggestions and then immediately issues a certificate of course completion.

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