Sunday, April 17, 2011

Credit Counseling and Financial Management Courses to Enter and Exit Bankruptcy

If you are thinking of filing for bankruptcy, under the 2005 changes to the Bankruptcy Code, you are required to take a course before and during the bankruptcy proceeding.  The first course is called "Credit Counseling" and the second course is called "Financial Management".  It is not time consuming or difficult.  It takes about one hour of your time and the cost runs from free to about $50.  You can take it on line or in-person.  The list of approved agencies can be found on line.

1.  Credit Counseling:  It is a requirement for anyone filing for bankruptcy to first take the credit counseling course.  After you take this mini-lesson, you are issued a Certificate of Credit Counseling.  It is a requirement that this Certificate be filed with your bankruptcy petition.

There is a list of approved agencies for New Hampshire (where I practice) on line as well as all of the other states, click below, for the approved agencies for credit counseling courses in New Hampshire:

My personal preference is the Greenpath Agency.  I do not receive anything from Geenpath for saying this - I just find them easy to deal with, and they email me the client's certificate to make it easy to file with the Bankruptcy Court.

2.  Financial Management Course:  You can take the mini-lesson with the same agency, and here is the approved list for New Hampshire.  Again, remember to obtain your certificate as it needs to be filed as well with the Bankruptcy Court.

You cannot fail either course - you just need to take both of them!


  1. interesting blog. It would be great if you can provide more details about it. Thanks you

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