Before you file for Chapter 7 or Chapter 13 bankruptcy in Colorado, credit counseling is required. In today’s blog, we’ll look more closely at what credit counseling is and why it’s important in Littleton and Centennial, Colorado.
What is Credit Counseling?
Credit counseling is one of the requirements before filing for Chapter 7 or Chapter 13 bankruptcy. It’s meant to help prepare you for overcoming your debt. Unless you complete credit counseling, you will not qualify for bankruptcy filing. Credit counseling provides budgeting options, education, and other tools to help you figure out how to handle your debt. However, it’s also meant to help decide if you could pay back your debts without needing to file for bankruptcy.
Where Can I Complete Credit Counseling in Colorado?
In Highlands Ranch and Greenwood Village, many people wonder where credit counseling takes place. When looking for credit counseling agencies, know that they have to be agencies approved by the United States Trustee. If you’re curious about approved credit counseling agencies near you, the United States Department of Justice has a list of approved credit counseling agencies by state and judicial district on their website. GreenPath is one of those approved options in Colorado. They offer credit counseling over the phone and in-person for free. Rest assured–there are many credit counseling agency options that are affordable, as they are trying to help people with overwhelming debt.
What Happens During Credit Counseling in Colorado?
When you find an agency that’s approved by the United States Trustee, your income and expenses will be evaluated in order to create a budget. Though an agency will talk through a repayment plan with you, you don’t have to agree to it. You’re just required to complete credit counseling before filing for bankruptcy in Colorado.
Considering Bankruptcy in Lone Tree? Contact an Experienced Bankruptcy Lawyer
A knowledgeable bankruptcy attorney is your best resource for discussing credit counseling more in-depth.
As a bankruptcy lawyer with more than 25 years of experience, I know the financial struggles everyone faces in their lifetime. If you live in Thornton or Denver and are considering Chapter 7 or Chapter 13 bankruptcy, don’t hesitate to call me. I’ll talk with you about steps you need to take before filing for bankruptcy, including credit counseling completion. Contact me for a free initial consultation today.
Bankruptcy Attorney Barry Arrington has successfully navigated his way through the bankruptcy courts and given people financial freedom under a filing of Chapter 7 and Chapter 13. Contact bankruptcy lawyer Barry Arrington today for a free consultation at 303-205-7870, or submit the “Get Bankruptcy Help Now” form. He will fight to give you your best, fresh start.