Well are you may be in over your head
financially and thinking about filing for bankruptcy. Well don’t until you watch
this segment. Jjoining us today as part of our
thirteen week money 411 series is Etta Money of InCharge Debt Solutions to
discuss bankruptcy courses along with free credit counseling to
help determine whether or not bankruptcy is indeed the right choice for you. Good morning again.
morning and welcome back to the show Welcome back to the show. Good morning Danielle. Let’s start off with this.
Explain what it is that you do and how do you help people? Well first we start off with a credit
counseling session and we talkd to folks who may be considering bankruptcy. If
it’s determined the bankruptcy is the right solution for them we will then
refer them to an attorney in their area. A bankruptcy attorney in their area. They will also be required to take to
educational courses throughout the bankruptcy filing process. InCharge
education foundation offers both of those courses. It’s an agonizing decision I’m sure to file for bankruptcy and
shared this is a file for bankruptcy and i’m sure you run across a lot of people
who say they are ready to file. What do you tell them and and when maybe should they not choose
bankruptcy? Well they were really need to consider
the impact on a credit report first and foremost. You know a decision like bankruptcy
could impact future decisions that you have around home purchases, businesses, and people also need to be
aware of those things that can not be discharged in bankruptcy such as student
loans, alimony, taxes, child support can’t be discharged. How long does a better to stay in your
credit report? It can stay on your credit report for up to
ten years. Wow. So you’re going to be dealing with this if you make this
choice for a long time to come. For awhile. So what happens if bankruptcy is indeed
the right choice for someone? Then we would refer them to a bankruptcy
attorney in their area. Consumers really need to think about the short and
long-term ramifications of that decision. And if bankruptcy is the appropriate solution for them, then they should proceed. It would also seem
to me that consulting with a credit counselor is probably a really good step
before filing for bankruptcy because it may ultimately reveal that
bankruptcy just may not be the right choice. It may actually be avoidable. Right? That’s right. That’s right. The consumer may decide that’s not
the best solution for them. We are there to provide guidance to the
consumer to help them try to figure that out. Alright, well I think the other
point here, don’t make a move without you. Right? Absolutely. Well Etta it’s always good to see you. Thanks so much for being on the show. Thank you. And for more information on bankruptcy
and InCharge Debt Solutions visit their website at incharge.org/balancing-act and be sure to stay tuned to our
money 411 series for even more useful tips and resources to help keep
your finances under control.