Is Bankruptcy Counseling Right for You?
When you’ve started considering bankruptcy counseling, you’re probably struggling with your bills. Maybe you’re having trouble making your monthly payments because you’ve fallen behind and are trying to catch up. But as higher interest rates and late fees build, you’re slipping even further into debt faster than ever. You’re researching consumer credit solutions, but as your burden grows, you’re feeling that bankruptcy is your only option for becoming debt free.
By now, you’ve probably looked into a credit consolidation loan. Maybe you even have one, but because of a financial hardship, you then needed to borrow against credit cards that were at a zero balance after you transferred the original balances to the loan. Now you’re even further into debt, and finding another consolidation loan or refinancing would push you even deeper into debt. So, after weighing your options, you decide that you should receive bankruptcy counseling before taking the big step of filing for bankruptcy. Maybe the counselor knows about some alternatives you’re unaware of.
Bankruptcy Counseling Helps You to Make Informed Decisions about Bankruptcy
If you’re thinking about filing for bankruptcy, bankruptcy counseling can help you weigh the options and make an informed decision. Many non-profit credit counseling agencies offer pre-bankruptcy counseling, which is required by the U.S. Department of Justice as a condition of filing for bankruptcy. In other words, this counseling session must be completed before you can file.
The counselors who provide credit counseling before bankruptcy have worked with many clients and understand the challenges they’re facing. They also understand the process of filing for bankruptcy from beginning to end. They also have a lot of information about other types of consumer debt solutions that may be a better fit for your unique financial situation than bankruptcy.
So, as you can see, bankruptcy counseling can help you make an informed decision about your financial future. The hour you spend talking with your credit counselor is a wise investment of your time and money. If you are unable to pay the fee for the counseling session, ask for a waiver before it starts.
Contact ACCC for Bankruptcy Counseling
If you believe that bankruptcy is the only way you can be freed from your financial burden, contact American Consumer Credit Counseling (ACCC) for bankruptcy counseling. One of our experienced counselors will talk to you about the circumstances leading you into debt and what you can do to regain control.
ACCC is one of the U.S. Department of Justice’s approved credit counseling agencies for pre- and post-bankruptcy counseling. If you decide to continue with filing for bankruptcy after completing pre-bankruptcy counseling, you can submit your pre-bankruptcy counseling certificate to the court to start the process.