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The Credit Counseling Requirement for Bankruptcy: 7 Facts to Know (Pt. 1)
Filing for Colorado bankruptcy can be a powerful way to resolve serious debt problems, but not just anyone who files for bankruptcy can realize this benefit. In fact, there are certain eligibility requirements that must first be met, and one of these includes satisfying the credit counseling requirement.
Taking a closer look at this aspect of bankruptcy cases, this three-part blog series will point out some important facts to know about the credit counseling requirement for bankruptcy. While the info presented herein can help clear up some of the questions people tend to have when they are considering pursuing a Colorado bankruptcy case, remember that you can turn to a trusted Denver bankruptcy attorney at Garcia & Gonzales, P.C. when you need experienced help favorably resolving your debt issues.
The Credit Counseling Requirement for Bankruptcy: Here’s What You Should Know
Fact 1 – The credit counseling requirement must be completed for Chapter 7 AND Chapter 13 cases.
In fact, since 2005, this has been a requirement for those who want to file for Chapter 7 or 13 bankruptcy, and this requirement must be satisfied at an approved counseling agency (for a current list of approved credit counseling agencies in Colorado, click here).
The intention behind this requirement is to take a closer look at whether there may be a viable way for consumers to resolve their debt issues without having to file for bankruptcy.
Fact 2 – The credit counseling requirement has to completed before filing for bankruptcy.
Specifically, in order to qualify for Colorado bankruptcy relief, people have to provide proof of completing the credit counseling requirement within the 180 day-period before they file for bankruptcy.
Additionally, petitioners will be obligated to file proof of credit counseling completion with the bankruptcy court no later than 15 days after filing a bankruptcy case (if this proof is not submitted with the initial petition).
Denver Bankruptcy Attorney at Garcia & Gonzales, P.C.
Are you looking for real relief from serious debt? If so, you can trust an experienced Denver bankruptcy attorney at Garcia & Gonzales, P.C. to provide you with experienced help, honest answers and the highest quality legal services. Since 1977, our attorneys have been helping individuals, families and businesses resolve their serious debt issues. This means that our trusted lawyers have the legal knowledge, skills and insight you can rely on to help you achieve the best possible outcomes to your financial issues.