How to best prepare for 1st credit counseling test?

[bornfree2]

As im in the process of filing a BK7 expediently, any tips or warnings on the first credit counseling exam?
I cant seem to find any sample tests online other than a mention it takes 1-2 hours.

Is it personally introsive? Do you need to disclose a lot of financial info to some random third party website?

How best to protect privacy?

[justbroke]

I won't say that the credit counseling is a joke, but most people will find that the things in that instructional class are almost commonsense. It's not an exam. It's just attendance and they keep you for the entire 2 hours. It's to teach the debtor basics about bankruptcy and about debt management. It's to make sure you are ready for bankruptcy over another option. it is not intrusive. It doesn't not pull your credit report.

Tt does ask enough identifying information so as to create a certificate which the bankruptcy court will accept. Make sure you use a service which is approved by your local bankruptcy court. Not all providers are approved for all courts.

As for the second class, the financial management class, some also find it to be... basic. It is also self paced and is not intrusive. From what I recall, I didn't even do the "budget" that in the course as I already maintain a budgeting worksheet in Excel.

[bornfree2]

It's to make sure you are ready for bankruptcy over another option. it is not intrusive. It doesn't not pull your credit report.

Tt does ask enough identifying information so as to create a certificate which the bankruptcy court will accept. Make sure you use a service which is approved by your local bankruptcy court. Not all providers are approved for all courts.

1- I wondering how much mickey mouse info I can give them. I assume i must give my real name. But if they start asking all the same stuff in the BK forms (assets, debts, income, property, etc) then i think its safer to mickey mouse that. After all the real info in the forms is perhaps better legally protected by the gov court filing system (though its all public info).

2- It just seems to me any 3rd party can create a website, follow the guidelines, be approved and certified, then run off and sell off all your info

Yeah..im one of those dying dinosaurs that still believes in privacy.

[justbroke]

1- I wondering how much mickey mouse info I can give them. I assume i must give my real name. But if they start asking all the same stuff in the BK forms (assets, debts, income, property, etc) then i think its safer to mickey mouse that. After all the real info in the forms is perhaps better legally protected by the gov court filing system (though its all public info).

I would not provide "Mickey Mouse" information. The certificate that they generate must match the petition. Besides, there is more information in the public bankruptcy file, accessible by any and all, that will be in PACER (Public Access to Court Electronic Records). They'd get more information from going to your bankruptcy petition than anything you'd ever provide them.

2- It just seems to me any 3rd party can create a website, follow the guidelines, be approved and certified, then run off and sell off all your info

They are pre-approved and, as I listed, you should only use one that your local bankruptcy court has listed. Don't just take any course as it may not be approved by your specific district.

If you want 100% privacy, or any privacy, you shouldn't file bankruptcy. It is a deep view of everything that you have done financially over the past several years and includes a basic inventory of what you own, which vehicles you own (including VIN), and where you live. This is all public information. The only thing you can have sealed in a bankruptcy case, and which is automatically sealed anyhow, are your tax returns and statement of social security number.

In fact, the last four of your SSN will be plastered everywhere, and every creditor address that you provide will receive a claim form (a Form B10) with your full SSN and partial account numbers. The prefiling course and the financial management (2nd) course are the least of your worries if you are overtly cautious of sharing your information publicly.

The bankruptcy itself is basically walking naked down the street for all to see.

[bornfree2]

I would not provide "Mickey Mouse" information. The certificate that they generate must match the petition. Besides, there is more information in the public bankruptcy file, accessible by any and all, that will be in PACER (Public Access to Court Electronic Records). They'd get more information from going to your bankruptcy petition than anything you'd ever provide them.

They are pre-approved and, as I listed, you should only use one that your local bankruptcy court has listed. Don't just take any course as it may not be approved by your specific district.

If you want 100% privacy, or any privacy, you shouldn't file bankruptcy. It is a deep view of everything that you have done financially over the past several years and includes a basic inventory of what you own, which vehicles you own (including VIN), and where you live. This is all public information. The only thing you can have sealed in a bankruptcy case, and which is automatically sealed anyhow, are your tax returns and statement of social security number.

In fact, the last four of your SSN will be plastered everywhere, and every creditor address that you provide will receive a claim form (a Form B10) with your full SSN and partial account numbers. The prefiling course and the financial management (2nd) course are the least of your worries if you are overtly cautious of sharing your information publicly.

The bankruptcy itself is basically walking naked down the street for all to see.

1- "I would not provide "Mickey Mouse" information. The certificate that they generate must match the petition." But just my name. Everything after that is not transfered into the schedules, so wouldnt it be okay to mickey mouse it. After all these certs are valid for 6 months and anyones financial picture can completely change in that time.

2- They dont make you sign on accuracy , perjury right...so?

I started to understand these implications with that schedule for property. But i feel at the pre counseling phase you have a choice at least to not file later. So to me its not a case of 'well if you are going to be stripped naked in the next room (bk filing), then its the same thing if you begin stripping at the lobby counter (pre counseling stage). At least in the lobby I can bail the heck out of there with my privacy intact.

I also now REALLY understand why people setup corporations. As I understand they are seen as people under the law (just not 'natural') so its fine to strip them naked since its not you...just a paper puppet.

I guess this is how the rich can setup LLCs over and over again and declare BK on them and remain untouchable and lead private lives

[flashoflight]

Privacy is a joke. There's no such thing.

Your information is already out there. It's far too late. No privacy even without the BK filing. For example, Lexis-Nexus probably knows every single little transaction that went in and out of your bank account, your balance, and sells that data without your permission. The folks that are suing you will know where you work because the payroll companies sell the data without your permission. This is the same reason why it's hard to hide your car from the repoman. If you use crypto, you already know the US is hinting at centralizing it by forcing KYC and eventually replace it with its own Fed Reserve digital currency which will give you no privacy at all.

[bornfree2]

Privacy is a joke. There's no such thing.

Your information is already out there. It's far too late. No privacy even without the BK filing. For example, Lexis-Nexus probably knows every single little transaction that went in and out of your bank account, your balance, and sells that data without your permission. The folks that are suing you will know where you work because the payroll companies sell the data without your permission. This is the same reason why it's hard to hide your car from the repoman. If you use crypto, you already know the US is hinting at centralizing it by forcing KYC and eventually replace it with its own Fed Reserve digital currency which will give you no privacy at all.

crypto is the biggest joke esp when people sold it as 'stick it to the man' banking. every single transaction is traceable (that is its point) so the only way to be 'clean' is to mine the stuff. but since you are tracked by other manners, even if you show up to sell some crypto with some private party the connection will soon be made.

CASH IS KING...thats why they are trying to eliminate it...covid being a nice excuse to say its 'contaminated' so must be eliminated.

The end game is micro tagging everyone so we are all SKUs

[Ekop785]

I agree that privacy is a thing of the past. With that being said, I wouldn't say the course was intrusive, so much as annoying. It was time-consuming and most folks that file BK pretty much know how they got there. I knew I could not "work out" a plan and I resented having to jump through hoops just to see a big negative balance at the end of the questions (duh, right? We are all in the red). But it is what it is and you have to do the course.

[justbroke]

I didn't complete the debt management plan in my course. I opted not to do that as I already had a budget.

[shipo]

Hmmm, I don't remember a debt management plan in my course at all; then again I took the course back in 2014, I'm probably having a "Senior Moment".

[Carmella]

I agree that privacy is a thing of the past. With that being said, I wouldn't say the course was intrusive, so much as annoying. It was time-consuming and most folks that file BK pretty much know how they got there. I knew I could not "work out" a plan and I resented having to jump through hoops just to see a big negative balance at the end of the questions (duh, right? We are all in the red). But it is what it is and you have to do the course.

I agree it was a while ago so it's kind of a blur. But I concur it was very annoying, we had a person on the phone we had to talk to during the first one. I feel like the second course took longer since we had to go through a long slide show type thing. It wasn't awful just felt like it would never end and felt like a moot point since we couldn't do most of what was being preached about the budget since the BK payment prevents us from some of that fancy budgetting LOL!