Bankruptcy Blog

27 November 2013

What is credit counseling during the debt relief process?

Credit counseling is free or low-cost to almost anyone seeking help in managing money.  If your debt is overwhelming and you seek bankruptcy to find relief, credit counseling is a required part of the process.  Credit counseling helps you analyze how you accumulated so much debt as well as assists in the plan development for how you should approach finding relief from debt. 

Seeking credit counseling will not harm your credit score.  However, it is likely if you are seeking counseling, your payments schedule and debt may already have impacted it. 

Within six months before filing for bankruptcy, you must go to an approved credit counseling service to discuss your debt and the options for debt relief.  The agency must be approved by the Executive Office of U.S. Trustees.  A list of approved counselors is found at this website: where you should select your state to find local counselors.  Finding the right counselor is important.  It should not cost you thousands of dollars to get the services of a credit counselor. 

Once a credit counseling session has been completed, a certificate will be issued to prove you sought counseling services.  The certificate will be included in your bankruptcy court filing documents. 

Steven H. Phelps  

Steven H. Phelps

Mr. Phelps was admitted to the Texas State Bar in 1992. His early litigation practice was concentrated in the areas of business law, banking and financial services, real estate and labor law. Since 1995, Mr. Phelps enlarged his practice to include the areas of estate planning and title services and most importantly, personal bankruptcy.

Call Steven today to talk about your individual situation during a free consultation.

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