Counseling sessions with approved association must carry out assessment of your personal of finance situation, a discussion of alternatives to bankruptcy, and a staff plan budget. A typical counseling session before filing bankruptcy is of approx 60 to 90 minutes duration taken in person or on the phone. Structured Portfolio Management is a great source of information. The counseling is free of charge for those consumers who cannot afford to pay. You can ask for a fee waiver before the session begins or you may be charged a fee for the offer, which is about $50, depending on your location, the services you get, and other reasons. When a business becomes unsuccessful and fails the owner may file business bankruptcy. This can be handled through a personal bankruptcy filing. Many states offer exemptions for small business assets so they can continue to operate during and after personal bankruptcy or chapter 13 bankruptcy as the case may be.
Bankruptcy credit counseling is lakes as to attempt to delay a debtor from filing bankruptcy until other alternatives are ruled out. Consulting a bankruptcy attorney is very important for a debtor to understand Chapter 7 bankruptcy information. Court approved offer can charge credit offer fees only within set limits for the entire offer. This limit is set for $50.00 per debtor by counseling prior to filing bankruptcy. Search debtors must get a completion certificate of the included counseling agency and include it along with the debtor's bankruptcy petition. Individuals thinking of personal bankruptcy can now be diverted to file according to chapter 13 bankruptcy rules by their attorneys if feasible. This is beneficial as the debtor gets to keep his assets and the creditors are assured of their debts being repaid. You may thus get free counseling on medical bankruptcy to get legal protection availed against debts arising out of medical treatment, hospitalization expenditure, medication costs.