Bankruptcy is a legal option available to consumers that are experiencing severe debt problems. Consumers should consider filing for bankruptcy as a last resort debt solution. Filing for bankruptcy is a major decision that could have negative consequences for you and your credit report for years to come.
Filing bankruptcy is a matter of public record. Information on every bankruptcy court case is available for the public to view. In addition, a bankruptcy is reported to credit reporting agencies and remains on your credit report for up to 10 years after the filing of the case. A potential lender that sees a bankruptcy as a part of a consumer’s credit report information will view it has an extremely negative item, worse than delinquencies or accounts in collections. It will have a negative effect on your credit score since a credit score is created from the information on your credit report.
CCCS of Greater Greensboro is approved by the North Carolina Bankruptcy Administrator to provide counseling on options, alternatives, and consequences of bankruptcy. Approved to issue certificate in compliance with the bankruptcy code 11 U.S.C. section 111 of the Bankruptcy Reform Act dated April 20, 2005.
Implementation of the Bankruptcy Reform Law started on October 17, 2005. Whether over the phone, or in-person, you’ll receive counseling from a highly trained and certified CCCS of Greater Greensboro counselor.
In 2005, the U.S. Congress passed the Bankruptcy Abuse Prevention Act that requires some new procedures for consumers filing Chapter 7 or Chapter 13 bankruptcy protection. This includes completion of pre-bankruptcy counseling as well as education prior to the bankruptcy terms being satisfied, formally known as “bankruptcy discharge.” These sessions are designed to provide individuals the resources and knowledge to regain financial control and avoid financial crises in the future.
We will provide you with a comprehensive overview of your financial situation, and help you create a workable budget. Additionally, we inform you of commonly available options for someone in a financial crisis other than bankruptcy. The consumer will be asked to provide information about income, household expenses and debts so a full budget analysis can be made. Alternatives to bankruptcy will be explained along with any options that may help the financial situation. A complete overview of the bankruptcy process including advantages and disadvantages of bankruptcy will be provided. Clients that complete this counseling will be issued a certificate which is required for filing a bankruptcy.
Pre-Filing counseling sessions are provided face-to-face. These sessions takes about 90 minutes and may be scheduled by calling our main number, 336-373-8882 or Toll free number 1-888-755-2227. A Pre-Filing certificate is provided upon completion of the session.
Pre- discharge bankruptcy Education is also available at CCCS of Greater Greensboro through a 2 hour US court-approved workshop that teaches participants how to regain their financial wealth following bankruptcy. A Pre-discharge certificate is provided upon completion of the workshop. Please call our main office number 336-373-8882 or Toll free number 1-888-755-2227 for any additional information.
The fee for pre-filing and Pre-discharge Education is $50.00. In certain circumstances, you may be eligible to have this fee waived or reduced.
Approved to issue certificates in compliance with the Bankruptcy Code. Approval does not endorse or assure the quality of an Agency’s services.