Bankruptcy Credit Counseling Requirement
As part of the 2005 Amendments to the Bankruptcy Code, people who plan to file for bankruptcy protection are now required to get credit counseling from a government-approved organization within 180 days before they file. They also must complete a debtor education course to have their debts discharged. With consumer bankruptcies on the rise and reaching historic levels, it is now particularly important that accurate information regarding these programs be accessible to the public. Some very good information regarding credit counseling and debtor education can be found on the Federal Trade Commission’s website. Although this page does not appear to have been updated since November 2006, the recent surge in consumer bankruptcies gives it renewed relevance.
As the FTC’s site explains: ‘The Department of Justice
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