Credit Counseling Is Not An Option – It’s Mandatory
Although bankruptcy is commonly perceived as the most stressful and unpleasant situation, however declaring bankruptcy is the most effective and recognized way to get a fresh start for those people who have unmanageable debt which is impacting negatively their financial and emotional well being. If you are in such a dire situation, then you need to know that you can get rid of it but on satisfying certain prerequisites. The Congress of the United States overhauled the US Federal bankruptcy laws in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. An important prerequisite enshrined in one of its provisions is that - all debtors must mandatorily attend bankruptcy classes for gaining complete discharge.
While considering a petition for bankruptcy under either a Chapter 7 or Chapter 13, being debtor, or precisely defaulter, you need to check carefully regarding compliance of this mandatory requirement. Bankruptcy course consisting of bankruptcy pre filing course and bankruptcy pre discharge course is a compulsory component and one that cannot be put off for another day. This is because; the law itself clarifies the period within which the bankruptcy class is needed to be attended and completed. Among the aforesaid two, the former must be completed within the six month period prior to filing, while the later must be completed before your discharge petition is decided by the appropriate authority.
Considering the time restraints and financial difficulties of the debtors, nowadays bankruptcy class is accessible with an internet connection for the individuals going through the hassles of bankruptcy. With the advancement of technology and innovation of online bankruptcy class, now tackling bankruptcy pre requisites has become quite easy, convenient and fast.
However, while researching for feasible online bankruptcy class, it is imperative for the debtors to ensure that the agency is approved by the Executive Office of the United States Trustee and most importantly provide the Online Credit Counseling Certificate after completion of each class.
One such professional and approved online bankruptcy class agency that fulfills all the above mentioned criteria is myonlinebankruptcyclass.com. The two most beneficial aspects of attending the bankruptcy class online at myonlinebankruptcyclass.com are: one - the individual goes through a simple, easy and swift process and second – the bankruptcy classes are written to provide debtors with the skills and knowledge necessary for better management of future debts so as to prevent the repeated needs for bankruptcy.