Part of the stipulations involved in filing for bankruptcy is that debtors complete a credit counseling course. One of the main topics covered in this course is a review of all debt relief options, including those outside of bankruptcy. The idea is to equip the debtor with the information needed to make an informed decision about their finances. However, anyone who is remotely considering bankruptcy does not have to wait to obtain this education.
Knowledge is Key
Credit counseling courses are open to anyone looking for ways to better manage their finances, or simpl learn about financial matters. From budgeting and saving, to investments, or debt relief, credit counseling companies can provide a wide array of infromation. These courses are available online or in person and typically last about 90 minutes. A small amount of time for a lifetime of financial knowledge.
Finding the right credit counselor isn’t too hard to do. There are some companies who many not be as qualified to provide the services as others. It is important to find a reputable company that meets the standards of the US Department of Trustees, especially if the course is required as part of a bankruptcy. A legitimate company will operate as a non profit organization and charge a minimal fee for services.
Mayer Newton strongly urges people to take this class to be informed and have some financial knowledge that is invaluable.