During the counseling session, you disclose your debts, assets (home, car, furniture, bank accounts, etc.) and your income and expenses.  This allows the counselor or automated system to assess your individual situation. Information is provided to you about the impact on your credit score if you have made late payments to your creditors or file bankruptcy. Also, the counselor will explain the differences between a Chapter 7 and Chapter 13 filing.  Further, the counselor provides tips on prioritizing your debts—who should you pay first when you are strapped for cash.  

Pay attention and read the sections.  When you take the course on-line you are required to call the company and talk to a counselor before your certificate is issued.  To verify that you are the person who actually took the counseling, the counselor will ask a few questions to see if you know the answers.  Don’t worry, the questions are not hard and are based on the financial concepts that were covered in the counseling.  There are no trick questions.

Everyone passes!