Bankruptcy courses are available for individuals interested in the legal profession. Understanding a credit report and legal issues that impact credit are covered in bankruptcy seminars. Educating on Fair Credit Reporting and Collection Acts are included as well as the Equal Credit Opportunity Act. Legal issues regarding consumer rights and how that relates to debt is included in these classes. Attending these programs to learn about all the different issues concerning credit and problems that lead to the alternatives of bankruptcy will prove to be very educating. "For the LORD giveth wisdom: out of his mouth cometh knowledge and understanding." (Proverbs 2:6)
There are a number of important topics covered in bankruptcy courses concerning the relationship between creditor and debtor, such as collection procedures and negotiation of collections. Attorneys and credit negotiation companies will negotiate with creditors in debt reconciliation for debtors. Included in this education are ways to handle negotiations with debtors and consumers and how to be successful at doing it. Professionals in legal services have to be knowledgeable about debtor rights as well as consumer rights concerning debt collections. Negotiations between two parties must be satisfactory for both in order to be successful. Classes include key principles in negotiating. Credit Management studies and understanding personal negotiation style is part of the information learned at bankruptcy seminars. Consumers are looking for informed professionals who can help with credit problems and issues and will often look to legal services for credit repair and monitoring.
Understanding current bankruptcy laws and what they mean to consumers is covered in bankruptcy courses. The difference between filing Chapter 7 or Chapter 13 is explained in bankruptcy seminars. Chapter 7 is referred to as liquidation because assets are liquidated and proceeds are given to creditors. Chapter 13 helps the debtor to pay debts with the protection of the government. High credit card debt, medical bills, and other unsecured debt may be filed under Chapter 7. Chapter 13 allows the debtor to pay off debts with lower or no interest. Usually a reduction of debt is possible and the debtor is allowed so many years to pay back creditors under Chapter 13. Bankruptcy education usually covers all options and particulars. Anticipated questions by debtors are included in bankruptcy seminars. Possible evaluations might be made by the student in using a credit report to determine what kind of bankruptcy would be feasible according to credit history. Learning scenarios might include evaluating whether a debtor needs to file or if debt consolidation or negotiation would be the best choice.
In learning about filing one of the chapters, it is important to remember that every person's circumstances are unique and should be handled that way. A thorough investigation would need to be done with the consumer for a complete understanding of their financial situation. After research and evaluation a determination or advice would be offered. A professional will make sure they understand all the facts before offering a conclusion. With bankruptcy courses one will learn that there is usually never a definitive answer. The facts are presented and discussed, then laid out in an analysis to the client with several choices. A legal professional will need to be able to answer any probable questions that might be asked by the debtor. The importance of understanding the process and all that it entails is why attending class is a good idea. Laws have changed so a refresher course is always a good idea. Learning customer service issues and how to handle a client who is distraught over their credit situation is also helpful. Each individual is unique and should be evaluated by listening to their perspective. Sometimes just having someone to listen and offer an unbiased opinion is very helpful in determining what the next step is. Some clients are anxious to stop harassment from impatient creditors. Under the law, harassment from creditors, debt collection agencies, and all collection activities towards the debtor must cease. Creditors have an opportunity to attend the court proceedings and participate in the session. However, there are fines given to creditors who continue to harass after debtors have filed.
Bankruptcy courses cover many different aspects of credit issues. A credit report is analyzed in class. Personal information, public records, credit history, and financial records are evaluated. Each person may obtain a free annual copy of their credit report by requesting it from the three major credit bureaus. Dissecting the credit report, students take each section and evaluate credit worthiness. Learning about credit report scoring is also evaluated in bankruptcy seminars. Some cover aspects of reestablishing credit. This information will be invaluable to the debtor who is anxious to reestablish credit worthiness after filing bankruptcy. It is possible to reestablish credit by applying for a secured credit card. As creditors start reporting to the bureau on newly established accounts credit scores usually start rising, as long as the payments are paid on time and credit limits aren't maxed out.
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