Filing for bankruptcy is a big step to take in life, and this is why you will be required to take a credit counseling course before you actually file. This course is designed to help you make the right decision with your finances, and it will teach you a lot of different things. Here are four things you should know about the course you will be required to take before you can file your bankruptcy paperwork.

The course is required

No one can file for bankruptcy without taking a pre-bankruptcy credit counseling course. The course you take must be approved by the Office of the U.S. Trustee, and the bankruptcy lawyer you consult with is likely to give you a name of a company to use for this course. The course is available online, and you will receive a certificate after you complete it.

It's also important to know that if you decide to file for bankruptcy, you must do it within 180 days of taking the course. If you take the course and wait longer than this, you will have to retake it.

It is not free

While this course is required to file bankruptcy, the costs of the course are not included in the fees you will have to pay your bankruptcy attorney. You will have to pay the costs of the class out of your pocket, and these classes typically cost around $50. The fee must be paid prior to taking the course.

The course is designed to give you options

The main reason the bankruptcy courts require this is to help people understand their options. A pre-bankruptcy course will help a person determine if bankruptcy is really necessary. It will help them understand alternative options to bankruptcy, and it will teach people how to get on a better financial track without using bankruptcy.

It will not obligate you to file for bankruptcy

Taking this course is a requirement for filing for bankruptcy; however, you are not required to file for bankruptcy if you take this course. While the course is not necessarily designed to discourage people from filing for bankruptcy, it often helps people realize that there are other ways to get out of debt.

If you are not sure whether you really need to file for bankruptcy or not, taking this course may be helpful. To learn more about bankruptcy and alternative options, contact a bankruptcy attorney, such as Shoemaker & Dart P.S. Inc, today.