Understanding The Two Bankruptcy Counseling Sessions

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Understanding The Two Bankruptcy Counseling Sessions

Bankruptcy claims are a long and difficult process for everyone, including Santa Clarita residents. For this reason and so that those filing understand how they got into this situation, the government requires the completion of two bankruptcy counseling sessions.

The first is called the pre-filing session and needs to be completed before you present your claim to the courts. If you attempt to claim without completing this course, the courts will throw out your case. The second session, called the pre-discharge session, is to be completed so that the courts can finalize your claim and forgive your debts.

In the pre-filing bankruptcy counseling session, expect to discuss your debt and the options you face. One of the biggest parts of the pre-filing session is determining if you actually need to file bankruptcy. Financing specialists look through statements involving your income, expenses, and debt to discover any and all unnecessary expenses you can remove in order to save money and handle your debt without filing bankruptcy.

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If they don’t find any, the specialist gives you the benefits and the disadvantages that filing for bankruptcy provides. When you complete this course, they provide you with a certificate of completion that allows the court to begin processing your claim.

The pre-discharge bankruptcy counseling session is the last part of the process you need to complete before the court can approve your claim and discharge your debts. In this session, financial specialists help you to comb through your income and expenses to create a budget, understand and raise your credit score, and recognize and avoid financial risks. This course was designed to help clients avoid unnecessary spending in order to never file for bankruptcy ever again. Upon completing the pre-discharge course, the courts are able to finalize your claim and forgive your debts.

Bankruptcy counseling courses are a fraction of the long process of filing bankruptcy, but they are necessary for kickstarting the entire process. In Santa Clarita, law firms including the Law Offices Of Louis J. Esbin are dedicated to ensuring that you have as smooth a journey as possible and that you have the knowledge to never have to go through this painful situation again.

Louis J. Esbin founded his law firm and has been practicing in Santa Clarita, California and Canyon Country, Valencia, Saugus, Stevenson Ranch, Newhall and Castaic neighborhoods since 1993, where he provides Bankruptcy Law, Corporate Formation Law, Transactional Law, Merger & Acquisition Law, and Commercial Law services to clients throughout California and other states.


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