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Your Required Credit Counseling Sessions Will Help You Emerge From Bankruptcy Successfully

In Missouri and Illinois, you are required to take both a pre-filing credit counseling course as well as a pre-discharge debtor education course. While these two steps in the bankruptcy process may seem like a hassle – one more thing to worry about – at the time, both of these courses are key to completing the bankruptcy process and to successfully reestablishing your financial life in the wake of a bankruptcy.

First and foremost, these two courses allow you to properly file for and emerge from Chapter 13 bankruptcy in Missouri and Illinois. If you do not complete your pre-filing credit counseling you will not be allowed to go through with the filing process and you will not have the opportunity to reorganize your debts and get a fresh start. If you do not complete your pre-discharge debt counseling, your bankruptcy case will be dismissed and you will return to square one.

Moe importantly, however, these two classes will help you better understand how to successfully utilize credit and how to successfully manage debt in the future. Even if you were forced to declare bankruptcy because of a major life event, such as a job loss, medical issue, or divorce, these classes can give you a number of tools to use as you strive to reestablish your credit and rebuild you life after a bankruptcy.

Some people believe that credit counseling was put in place simply to slow down the bankruptcy process and to make declaring bankruptcy a more difficult process. Even if you believe that this is true, credit counseling is now a requirement that you must go through in order to find debt relief and begin your financial life anew.

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