What kind of debt counseling is available before and after filing for bankruptcy?

Before filing for bankruptcy, Virginia provides debt counseling services from approved credit counseling agencies. These agencies can help individuals understand their financial situation and develop a budget plan to manage debt. Additionally, credit counseling agencies often work with creditors to change repayment terms and reduce interest rates. After filing for bankruptcy, Virginia also provides debt counseling services. These post-bankruptcy services help individuals learn how to properly manage their finances and credit. Additionally, post-bankruptcy counseling provides education about budgeting, debt management, and credit repair. The goal of post-bankruptcy debt counseling is to prevent individuals from falling back into a state of financial hardship. In both pre- and post-bankruptcy debt counseling cases, services are provided free of charge in most circumstances. The Virginia Department of Financial Institutions is responsible for overseeing all credit counseling services in the state. All credit counseling programs must be approved by the Department in order to be eligible for free services. By taking part in pre- and post-bankruptcy debt counseling, individuals can learn how to take control of their finances and rebuild their credit. This education can help people avoid financial pitfalls and give them the tools they need to start fresh.

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What kind of debt counseling is available before and after filing for bankruptcy?

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