Do I need to attend a credit counseling session to file for Chapter 7 Bankruptcy?

Yes, if you want to file for Chapter 7 Bankruptcy in North Carolina, you will need to attend a credit counseling session. According to North Carolina law, you must receive credit counseling from an approved credit counseling agency in order to file for bankruptcy. This counseling must be completed before a bankruptcy case can be filed. This credit counseling session will cover the basics of budgeting, managing money, and getting out of debt. The session will also cover laws that may affect your bankruptcy case, such as the Bankruptcy Code, as well as how credit works. The counselor will provide you with a certificate that must be filed with the court before you can have your petition accepted. The credit counseling session usually lasts no more than two hours. There may be a fee associated with it, but it is typically very small or may even be waived if you are unable to afford it. Furthermore, if you are in imminent danger of losing your home or facing foreclosure, many counseling agencies may provide free counseling services. The point of the credit counseling session is to provide an understanding of the bankruptcy process and whether or not it is the best option for your financial situation. In the end, it is important to remember that bankruptcy should be a last resort and only utilized when all other options have been exhausted.

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