PRE-BANKRUPTCY COUNSELING

Best Credit Service, Inc. has offered pre-bankruptcy counseling since January of 2006.

Effective October 17, 2005, federal law mandates that individuals considering bankruptcy must first acquire a certificate stating they have attended a pre-bankruptcy counseling session from an approved non-profit credit counseling agency. Once this is completed, you will receive a certificate and are able to proceed with your bankruptcy filing. The following topics are discussed during the session with one of our certified counselors:

• Reasons why filing
  
  
• Events leading up to the clients current financial situation
  
  
• What bankruptcy is
  
  
• What is going to occur during the bankruptcy process
  
  
• Changes in the law
  
  
• What are chapter 7 and chapter 13 of the bankruptcy code
  
  
• Alternative programs to bankruptcy
  
  
• Budget Analysis
  
  

Effective October 17, 2005, federal law mandates that before individuals are discharged from personal bankruptcy they must first complete a financial management, debtor education course.

Debtor education can be completed in the following way and costs $50 for the session: the fee may be reduced depending on your financial situation.

Internet - Internet users must first contact Best Credit Service, Inc. to begin the registration process. Contact can be made by phone or email at:

                         1-877-929-2378 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Once registration is completed, a log-in name and password will be sent that will allow you access to the secured, online course.

Chapter 7 Filers: Debtor Education must be completed within 45 days of your 341 meeting of the creditors. Once completed, you will eligible for discharge.

Chapter 13 Filers: Under a Chapter 13 repayment plan, you must complete a debtor education course before being discharged. Under Chapter 13 you are allowed a maximum of five years to repay a portion or the full amount of your debt. During this time is when you must take the post-bankruptcy, debtor education course.

We strongly encourage Chapter 13 filers to take the debtor education course as soon as possible rather than waiting years into the bankruptcy. The information learned during debtor education is valuable and will be of great assistance in helping you manage your budget, wisely select credit options, and repair your credit. Once completed, you will be elegible for discharge.

 A Certificate indicating that you have completed the debtor education course will be issued to you upon completion. The following will be covered during your debtor education course.

• Developing a budget

• Setting financial goals

• Savings

• Understanding cash, money orders, checks and debit cards

• Methods to saving money

• Secured and unsecured credit

• Reading your credit report

• Disputing errors on your credit report

• How your credit score affects you

• What you need to know about contracts

• Understanding leases, utilities, cell phones and furniture purchases

• Consumer laws

• Accessing resources that can help you

• Warning signs of financial trouble

• Choosing and working with a financial counselor