In certain cases, it's obvious when it's time to go ahead and file for bankruptcy. Overwhelming debt and constant calls from creditors indicate a need for a removal of or repayment plan for the incurred debts. Other times, though, it may not be so clear. Maybe you think there's still a chance to clear the debt on your own or it doesn't seem too worrisome just yet. If there's any doubt or question, it could be time to receive credit counseling from a Louisville bankruptcy attorney.
The Right Footing
As mentioned, some cases are obviously ready for filing a bankruptcy claim and others may be more in between self-management and gaining assistance. A bankruptcy attorney's job, in part, is to be a credit counselor of sorts. The purpose is to educate people on the process of filing a claim and better forms of financial management, and to look into the particular situation to offer the best advice.
Once the education is complete and it has been decided that bankruptcy declaration is the best option, debtors will also be required to attend an official debtors education course designed to teach the skills necessary get back on track with their spending and their debt.A debtors education course teaches budgeting, the importance of tracking spending, and how to use credit wisely. It is a critical part of the bankruptcy process that equips debtors to leave bankruptcy on a strong money management foundation to make the best out of their fresh start. These courses may be offered as part of the filing process directly from an agency hired by a bankruptcy attorney, or completed through an online course or agency. The important thing to remember when seeking debtors education courses from a credit counseling agency is that they are accredited by the U.S. Trustees Program.