Under the pre-2005 bankruptcy laws, you could file for bankruptcy at any time. Now, before you will be able to file for either Chapter 7 or Chapter 13 bankruptcy, you will have to participate in a credit counseling session within six months of the filing. After successfully filing for bankruptcy, you will also have to pay for and attend a debtor education class in order to discharge your debts. The purpose of this course is to teach you how to better manage your finances after your bankruptcy. It will take more time to complete than your credit counseling session and may last from 1 to 3 hours.

You will probably be required to pay for your debtor education course. This means that filing for bankruptcy will cost you more money. However, some US Trustees may offer debtor education courses at their own offices. This will make attending the class cheaper and more convenient for you.  Call Sagaria Law to schedule an appointment in San Diego for a free consultation.