Many clients ask: Why do I have to take a credit counseling class? The simple answer is: the Bankruptcy Code requires it.
You may have paid your lawyer all of the fees required, you may have provided your lawyer with all the information necessary for a petition to be properly prepared, your petition may have been prepared, you may have signed it….but if you have not taken the pre-filing credit counseling session and provided a certificate of completion to your attorney, your petition cannot be filed. Many clients are fearful of the credit counseling: What will they ask? I don’t know what to say? What if I don’t pass? How much does it cost?
The credit counseling itself is extremely simple; you cannot fail. You will be asked about income and living expenses; estimated answers are fine. The counseling can be done on the Internet, or by telephone. You must use an approved agency. The Resource page of our website www.milwaukeebankruptcy.com has a list from which you can choose.
The credit counseling is not expensive at all. There are some that are extremely inexpensive.
Keep in mind that in order to receive your Court-Ordered Discharge, which finalizes your bankruptcy, there is a second class that you must take called a Financial Management Class. Again, this can be done on the Internet or by telephone.
If you have any questions about the credit counseling classes please contact our Milwaukee or Kenosha office of Miller & Miller Law.