On Behalf of developers | August 6, 2024 | Bankruptcy,Blog,Chapter 13 Bankruptcy,Chapter 7 Bankruptcy
Filing for bankruptcy in Mississippi requires several steps, including filing paperwork, providing financial history, revealing assets, and attending court hearings. What many people don’t realize is that there is also a required credit counseling education course that must be completed before filing for bankruptcy as well as a financial management course to be done after filing.
When filing for Chapter 7 or Chapter 13 bankruptcy in Mississippi, one of the steps during filing a credit counseling course that is approved by the U.S. Trustee Program is required. It’s fairly short, just about an hour long, and covers important educational information like how to budget, debt management strategies, and what alternatives you have to bankruptcy.
After filing, you’ll need to complete a debtor education course, also known as a financial management course. This course focuses on personal financial management skills to help you avoid future financial difficulties.
Why are these classes required? The main objective of a credit counseling course is to help you make an informed decision after exploring all the potential options. It’s also important to understand the full implications associated with filing for bankruptcy, which these courses provide. Lastly, these financial education courses for bankruptcy provide tools and techniques for proper money management after bankruptcy. The ultimate goal is to ensure you don’t find yourself in financial hardship again, and research has indicated that if you go through financial education courses when filing for bankruptcy, you are less likely to find yourself in debt again.
You have to carefully select an accredited course with an approved administrator, so choose wisely! If you have legal representation for your Mississippi bankruptcy claim like Pond Law Firm, we provide a list of approved options to simplify the process for you. There are some specific requirements with the courses. First, you must have the credit counseling course completed 180 days BEFORE filing your bankruptcy claim. During your bankruptcy proceedings, the court will set a date by which your debtor education course must be completed. There is a fee for these courses but many offer reduced fees or waivers if you can show that they are not affordable for you. Again, a good lawyer can help you with all of these aspects of filing a bankruptcy claim.
The intricacies of claiming bankruptcy can feel overwhelming but with the help of a reliable and trustworthy legal team on your side, the process becomes much easier. Pond Law Firm is a team you can count on to walk you through all the steps of the bankruptcy claim process. Besides assisting you with all the necessary paperwork, financial reporting, court appearances, and legal aspects of claiming bankruptcy, we will also connect you with accredited credit counseling and debt management courses that will meet all the requirements so that you can get on with your bankruptcy claim quickly. Contact Pond Law Firm today and we’ll support you through your bankruptcy claim in Mississippi.