Sacramento Bankruptcy Attorney serving Citrus Heights and Eldorado Hills talks about subjects covered by mandatory education classes needed to complete a Chapter 7 bankruptcy
Ever get a traffic ticket and have to go to traffic school in order to keep the ticket off your driving record? What did you think of these classes: Boring? Helpful? A waste of time? Seems like human nature to automatically resist doing something just because it’s required in order to qualify for another reward that we desire to enjoy.
Filing for a Chapter 7 bankruptcy requires two courses be completed: one before filing and one after. But the fact is that the information you’ll learn in these courses is actually helpful both in organizing your information prior to filing for bankruptcy and to remain debt free and money smart after your qualified debts are discharged.
What are you going to learn by going to Bankruptcy School?
By Attending Credit Counseling BEFORE YOU FILE, you’ll cover subjects such as:
1) Evaluation of your finances;
2) Assessment of your property;
3) Discussion of alternatives to filing Chapter 7 bankruptcy;
4) Analysis of your income;
5) Overview of bills and debt; and
6) Help in creating a personal financial budget.
This course must be completed within six months prior to applying for bankruptcy. Also, the credit counseling session must be done by a non-profit agency that has been approved by the United States Trustees office. If you have questions, here’s the link.
BEFORE Final Order Discharging Debt, You’ll Need to Attend Debtor Education
Here’s a link to approved providers as well as a link to FAQ:
And here’s the course subjects you’ll learn more about:
- Developing a personal budget;
- Setting financial goals;
- Cutting expenses and increasing income;
- Evaluating your insurance coverage;
- Handling a checking account;
- Using credit to your benefit;
- Prioritizing debt payments;
- Reviewing your credit reports;
- Improving your credit; and
- Avoiding becoming an ID theft victim.
Financial Freedom Law focuses on Chapter 7 and Chapter 13 debt relief and invites anyone who is spending too much time dealing with creditors, and not enough time dealing with the next steps to financial recovery, to call or email to discuss your individual circumstances. Please contact our Sacramento office at 916-313-9069 or via email at info@california-bankruptcyattorney.com
