Step 2: Mandatory Credit Counseling Briefing
Federal law requires that you receive a Credit Counseling Briefing from a certified credit counseling agency prior to beginning action on a Chapter 7 bankruptcy petition.
This briefing includes a section on financial management and how to create a personal budget and will also discuss alternatives to Chapter 7 bankruptcy.
Although there are some hardship exceptions to this rule, most debtors are required to show the bankruptcy court proof of completion of the credit counseling briefing.
Failing to do so before filing may result in your case being dismissed.
A Chapter 7 bankruptcy lawyer may refer you to the appropriate agency.
Filing Chapter 7 Bankruptcy Steps
The above summary is not legal advice. Laws may have changed since our last update. For the latest information on Chapter 7 bankruptcy laws, speak to a local Chapter 7 bankruptcy lawyer in your state.