This brochure discusses how to use your credit in a way that avoids bankruptcy and things to think about before you use a credit card. It is very specific about what to look for before you get a new credit card and how to use an existing card. It even discusses how to avoid unnecessary fees and charges.
Bankruptcy is a choice that may help if you are facing serious financial problems. You may be able to cancel your debts, stop collection calls, and get a fresh financial start. Bankruptcy can help with some financial problems, but does not guarantee you will avoid financial problems in the future. If you choose bankruptcy, you should take advantage of the fresh start it offers and then make careful decisions about future borrowing and credit, so you won’t ever need to file bankruptcy again!
Among key provisions of the new bankruptcy law is a requirement that consumers must participate in credit counseling from an approved, non-profit credit counseling agency prior to filing for bankruptcy. In addition, consumers who have filed for bankruptcy must participate in a financial education session before their debts are discharged. The required counseling must be provided by an agency or company designated by the United States Trustee’s Office. This link will get you started.