Soon you will be able to literally file bankruptcy today . . .

Since 2005, debtors have been required to take a short credit counseling session before they file bankruptcy cases. Not taking the counseling session is grounds for having a bankruptcy case thrown out of court . . . not a good outcome, considering it costs $299 just to file, and having a dismissed case locks you out of refiling for several weeks, and will have the judge looking at you sideways.

But for those folks in a big rush to file a case (foreclosure sale or lawsuit coming up, for instance), it will soon be clear that you can take the counseling session on the same day as you file the case with the court.

A bill to make this official has been passed by Congress, and is waiting for President Obama’s signature. Some judges around the country, but not all, had questioned whether the credit counseling certificate could be obtained on the same day as filing.


By Doug Beaton

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