Credit Counseling and Bankruptcy
With the changes to Bankruptcy law set out in the 2005 Bankruptcy Abuse Prevention Act any person seeking to file a personal bankruptcy in Oklahoma, either a chapter seven or a chapter 13, is required to take two credit counseling courses. The bankruptcy credit counseling course is not the same as those that we generally see advertised on television; the credit counseling advertised on television are not used to satisfy the new law and its credit counseling requirement. There are two certificates that the personal bankruptcy debtor must receive.
The first certificate is the pre-petition credit counseling. This course must be taken and its certificate filed with the original bankruptcy petition. The course can be taken either by phone, online or in person. The purpose of the pre-petition credit counseling is to explain the various bankruptcy options in Oklahoma and to give the debtor insight into what got them into their current financial problems. If the debtor is married both the husband and wife must take the course and can do it together. Both husband and wife will receive a certificate and the certificate will be mailed to the bankruptcy attorney in the case who will file it with the original Oklahoma bankruptcy petition. The course is fairly inexpensive at around $40.00. I advise first meeting with your bankruptcy lawyer and he or she will recommend the credit counseling firm they work with.
The second part of the required credit counseling in Oklahoma is the post petition debtor education. Generally this course is taken after you have your 341 meeting of the creditors but can be taken in advance of it. The important thing about the debtor education class is that it must be timely taken or your bankruptcy case will be dismissed. The second part of the course takes a bit longer then the pre-petition counseling and is also designed to make you a better consumer. Your bankruptcy attorney will recommend the best credit counselor to use and once again the bankruptcy lawyer will receive a copy of your certificate form the credit counselor and file it in your bankruptcy case.
If you have any question about credit counseling in Oklahoma or would like a free consultation with an Oklahoma bankruptcy law firm please contact EZ Oklahoma Bankruptcy and speak to one of our experienced and reasonably price bankruptcy lawyers.
