3 Facts About Credit Counseling

Before filing for Chapter 7 bankruptcy, applicants must first fulfill two requirements. The first is a means test which examines one’s income to determine whether it is feasible for a debtor to make payments against his or her debts. Along with the means test, applicants must also receive credit counseling before they can officially file for bankruptcy. If you have any questions or concerns about credit counseling, you should speak with a qualified legal representative today.

Take control of your financial situation today. At Joshua Spirn & Associates, our team of Boston bankruptcy lawyers is here to help you get out of debt and on with your life. Contact us today at 800-975-5346 and schedule a free consultation to discuss your legal options.

Credit Counseling Details

Credit counseling can be a very new concept for many people. The following are just a few key elements of credit counseling requirements:

1. You Must Take Some Form of Credit Counseling Before You Can File for Chapter 7 or Chapter 13 Bankruptcy

In an effort to help debtors gain skills and knowledge to avoid finding themselves at the edge of bankruptcy again in the near future, would-be bankruptcy filers must complete credit counseling within 180 days prior to filing for bankruptcy.

2. You Can File for an Exemption if You Are Mentally or Physically Disabled

If you have a mental or physical disability, you may be exempt from this requirement because it is perceived to be less beneficial for those on fixed incomes.

3. You Can Be Exempt if You Are in the Military

Those who are currently serving in the military and are deployed can be exempt from credit counseling.

Contact Us

Get the legal advice and assistance you need today by calling the Boston bankruptcy lawyers of Joshua Spirn & Associates at 800-975-5346 to schedule a free consultation. You do not have to continue struggling with the anxiety that accompanies an unmanageable debt load, and we can help.