Affordable Bankruptcy relief and Habib & Zalewski P.C. with offices in Queens County brings you an article on credit counseling.

New York – Bankruptcy credit counseling has become compulsory with enactment of new bankruptcy laws in 2005. It is compulsory to submit the certificate availed on the completion of credit counseling in your petition file. And the credit agencies have to be approved by the Trustee who is appointed by the U.S. bankruptcy court.

New bankruptcy laws are in effect from October 17, 2005. The major change in law is that bankruptcy credit counseling is now made compulsory. According the new bankruptcy act it is mandatory for the debtor to complete the counseling course within 180 days before filing for bankruptcy petition.

This new requirement of credit counseling according the law can be satisfied by online bankruptcy credit counseling, [http://www.bankruptcyonly.com] phone credit counseling, individually or in group credit counseling from court approved counseling agencies. The bankruptcy counselors have to be approved by U.S trustee office. Any one from non-profit budget counselor, credit agency or any international course offering personal finance management courses are approved if they meet the criteria set forth by new law. This makes it necessary for debtors to have proper personal bankruptcy information.

Many times because debtors are unaware of this change in law, they face delay in their bankruptcy filing. You can avail telephonic credit counseling in order to finish off your counseling session early if you are on hurry to file bankruptcy because of some deadlines approaching. Telephonic counseling takes one hour maximum. The maximum charges for credit counseling is somewhere around $50. Once debtor completes the credit counseling session he is awarded a certificate of completion which he has to submit in his bankruptcy file. It is compulsory to present the certificate of credit counseling in order to qualify for bankruptcy.

It has become more difficult to file for bankruptcy compared to earlier times with enactment of new bankruptcy laws. According the new law credit card companies and high power lobbyists can make it difficult for debtor to get rid off credit card debt completely. Thus filing chapter 7 bankruptcy [http://www.loansstore.com/chapter-7-bankruptcy] is no longer that easy.

Before that bankruptcy filing was simple and hence many people used to file bankruptcy individually without help of any attorney. But with new laws it has become very difficult to file for bankruptcy individually leading you into more trouble if you make some mistake in submitting the documents and hence it is recommended to hire the services of bankruptcy lawyer. You can search for bankruptcy attorneys who are licensed to work in your state. Go for no obligatory counseling session with selected attorneys first in person or on phone. Visit at least 4 to 5 such attorneys and hire the one whom you found to be the most reliable one. Attorney will provide you with the bankruptcy legal advice studying your financial situation and will guide you further regarding the bankruptcy filing. This way you could reduce the rigors of the entire process and make it less stressful for you.