how long do you have to take post bankruptcy course

Full Answer

How long does it take to complete a bankruptcy course?

You have to take this course after your case is filed but make sure it’s be completed within 60 days from the date of the meeting of creditors. A certificate of completion must be filed with the court.

When do I have to take the debtor education post bankruptcy class?

A: In a chap­ter 7 case, you must take the debtor edu­ca­tion post-​​bankruptcy class (1) after you file your peti­tion for bank­ruptcy and (2) within 45 days after your first meet­ing date with your cred­i­tors and bank­ruptcy trustee.

What is the second course I have to take after bankruptcy?

There's a second course you must take after filing bankruptcy. It covers personal financial management and can help you take advantage of your fresh start after erasing your debts through bankruptcy. You have to take this course after your case is filed but make sure it’s be completed within 60 days from the date of the meeting of creditors.

What courses do I need to take before filing bankruptcy?

If you’re filing bankruptcy to wipe away your debt you’ll need to take two educational courses. A credit counseling course before filing your case and a financial management course after filing. Written by Attorney Andrea Wimmer.

What happens when you file bankruptcy for the second time?

If you file for bankruptcy again prior the time limits, then you will not be entitled to a discharge, and your remaining debts will survive the bankruptcy.

What is pre discharge debtor education?

About Pre-Discharge Education It prevents creditors or collection agencies from collecting debts through legal action or communication, such as phone calls, letters or personal contact.

Can you add debt to a Chapter 7?

Adding a Creditor After a Chapter 7 Filing With Chapter 7 bankruptcies, if you want to add a creditor after you have already filed, you will need to notify your attorney as soon as possible. Only debts that are incurred before filing can be added to your Chapter 7 bankruptcy.

Is borrower a debtor?

If you're a debtor, you are indebted to someone else. Sometimes, a debtor refers to someone who files for bankruptcy. A borrower and debtor are nearly interchangeable terms. A borrower is in debt to a lender or financial institution when they borrow money.

How long do you have to take Chapter 7 bankruptcy?

In a chapter 7 case, you must take the debtor education course: (1) after you file your bankruptcy case and (2) within 60 days after your first meeting date with your creditors and bankruptcy trustee. This meeting is also known as a Sec. 341 meeting (named after Sec. 341 of the Bankruptcy Code which requires it).

What is a Chapter 13 bankruptcy meeting?

This meeting is also known as a Sec. 341 meeting (named after Sec. 341 of the Bankruptcy Code which requires it). In a chapter 13 or chapter 11 case, the debtor education course must be taken (1) after you file your petition for bankruptcy and (2) no later than the last payment you have to make as required by your bankruptcy plan, ...

How to complete the automated telephonic course?

To complete the automated telephonic course, call 800.214.7030 Monday through Friday, 8am-8pm ET and a representative will take payment and send you into the course – no appointment necessary. alternatively, you can register online 24/7 and follow the instructions to call into the course.

Is there a second bankruptcy course?

Yes, Second Bankruptcy Course LLC is approved by the United States Trustee to issue certificates in compliance with the Bankruptcy Code. Approval does not endorse or assure the quality of a Provider’s services.

How long does it take to complete a debtor education course?

The course is required to take a MINIMUM of 120 minutes (2 hours) to complete. The course is timed, and you cannot finish early. Take your time and spend the full two hours on the course material. All debtor education providers have the same time requirement.

What is the second course in bankruptcy?

The second course is required as part of your bankruptcy. The purpose of debtor education is to provide you with the knowledge and skills to take control of your financial future. The course is taken after your bankruptcy has been filed but before you receive your discharge.

What is the second course in credit counseling?

The second course is a financial management session, which is more educational.

Can you get a bankruptcy certificate if you are referred to a different provider?

Yes, even if you were referred to a different provider, the certificate you receive after completing the BE Adviser debtor education course is accepted everywhere, by all attorneys and by all bankruptcy courts.

How long do you have to take bankruptcy classes?

How long do I have to take it after filing for bankruptcy? A: In a chap­ter 7 case, you must take the debtor edu­ca­tion post-​​bankruptcy class (1) after you file your peti­tion for bank­ruptcy and (2) within 45 days after your first meet­ing date with your cred­i­tors and bank­ruptcy trustee.

What is pre filing bankruptcy?

The pre-​​filing bankruptcy credit counseling course is also known as a pre-​​petition counseling session or a budget briefing. You will be required to provide a certificate of completion showing you have completed the bankruptcy credit counseling course prior ...

What is the pre discharge debtor education course?

The debtor education course is also known as the personal financial management course or the post-​​filing debtor education course, and completion of this course is required ...

What is the bankruptcy abuse prevention and consumer protection act?

A: The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 includes two provisions mandating financial counseling and education: Before filing for bankruptcy, consumers are required to have a briefing on the alternatives to bankruptcy; and before receiving a bankruptcy discharge a debtor is required to complete an instructional course concerning personal financial management. These provisions were included to provide debtors in bankruptcy with the skills and tools needed to potentially avoid future financial problems.

How many courses do I need to take to become a bankruptcy attorney?

You’ll also need to take two educational courses. One before and one after filing bankruptcy. This is required by the Bankruptcy Code . There is usually a small cost for this counseling service, but bankruptcy law requires that anyone who can't afford to pay the cost can apply for a fee waiver.

How long do you have to take pre bankruptcy credit counseling?

You have 6 months to take the pre-filing course. Once your forms are filed with the bankruptcy court, you’ll want to get the second course done within 60 days of your meeting of creditors (or before the meeting, if you want). The courses are offered by nonprofit organizations that are pre-approved by the U.S. Trustee (or the bankruptcy administrator).

What do I need to do if I file for bankruptcy?

In a Nutshell. If you’re filing bankruptcy to wipe away your debt you’ll need to take two educational courses. A credit counseling course before filing your case and a financial management course after filing. Written by Attorney Andrea Wimmer. Updated January 5, 2021.

What to do during a credit counseling session?

During the credit counseling session, you'll speak with a credit counselor about your financial situation. Once done, they may recommend that you consider a repayment plan but oftentimes they'll simply provide you with the bankruptcy certificate to submit to the court along with your bankruptcy forms. The certificate is how you prove ...

How long is the debtor education course?

As a result, the debtor education requirement is a 2-hour course. When done, you'll receive a certificate of completion that you have to submit to the bankruptcy court.

How long is credit counseling?

The Executive Office of the United States Trustee (“EOUST”) states that “sessions should last approximately 60 minutes .”.

Can I file for bankruptcy if I don't have credit?

Yes, because as with everything in life, knowledge is power. Even if you don’t end up filing a bankruptcy case, a credit counseling session with an accredited nonprofit provider can help you figure out your next steps. It may help clarify whether bankruptcy is a good idea for someone in your situation.

How long does debtor education last?

Regardless of the method of instruction, the course will typically last at least two hours. If you attend the course in person, an instructor will provide you with course materials and teach you in a class setting.

What happens if you don't complete debtor education?

If you don't complete the debtor education course within the specified deadlines, the court will typically close your bankruptcy case without a discharge. This means that if you want to wipe out your debts, you will need to file a motion, pay the necessary fees, and ask the court to reopen your case so that you can file ...

How to get discharged from Chapter 7?

To receive a discharge in Chapter 7 or Chapter 13 bankruptcy, you are required to take a debtor education course after you file your case. The goal of the debtor education requirement is to educate you on making smart financial choices so that you won't have to seek bankruptcy relief in the future. When you take the debtor education course, you ...

How much is a reasonable fee for debtor education?

But the new rules published by the Executive Office for U.S. Trustees (EOUST) state that $50 or less is a reasonable fee. If a debtor education provider wants to charge more than $50, it has to get approval from the EOUST. (Learn more about the new debtor education rules .) Fee waivers.

What is debtor education?

The purpose of the debtor education course is to teach you how to manage money and use credit wisely after bankruptcy. If you don't complete the debtor education requirement, the court won't issue a discharge in your bankruptcy. Read on to learn more about the debtor education course requirement in bankruptcy.

Do you have to take debtor education before discharge?

With a few exceptions, all Chapter 7 and Chapter 13 bankruptcy debtors must complete a course in debtor education before they can receive a discharge. (Learn more about the exceptions to the debtor education requirement .) you don't have an adequate debtor education course available in your district (this is a very rare occurrence).

How long does it take to pay bankruptcy fees?

The entire fee is due within 120 days after filing. If the bankruptcy court approves your application, it will grant an Order Approving Payment of Filing Fee in Installments. Your installment payment due dates will be in that order. You must pay all installments on time or your case is at risk of being dismissed.

How long does it take to pay Chapter 7 bankruptcy?

You can ask to make four installment payments. The entire fee is due within 120 days after filing.

How long does a Chapter 13 bankruptcy stay on your credit report?

A completed Chapter 13 bankruptcy stays on your credit report for 7 years after the filing date, or 10 years if the case was not completed to discharge . As a result, filing bankruptcy will initially lower your credit score. How much your credit score will drop depends on how high or low it was before bankruptcy.

What happens when you file Chapter 7?

As soon as you file your Chapter 7 bankruptcy, you are given a case number and a bankruptcy trustee is assigned to your case. The bankruptcy trustee will oversee your bankruptcy filing, will review your bankruptcy forms, and may ask for additional documents to verify your information.

What is the term for protection from creditors after bankruptcy?

Protection from your creditors begins immediately after filing for Chapter 7 or Chapter 13 bankruptcy. This is called the automatic stay. Once you file and the automatic stay takes effect, your creditors are not allowed to take collection action against you.

What is the form that you file for bankruptcy?

One of the forms you will file with the bankruptcy court is called the Statement of Intention. In this form, you tell the court what you plan to do with property that is securing a debt you owe, like real estate or a vehicle.

How many points can you get from bankruptcy?

Generally, a decrease between 100 to 200 points can be expected. The good news is that you can begin rebuilding your credit as soon as your bankruptcy discharge is entered. It's possible to have a better score within 1–2 years of filing.

How long does it take to file a bankruptcy certificate?

The post-filing financial management program must be taken, and a certificate of completion filed with the court, within 45 days after the Chapter 7 debtor attends the 341 meeting of creditors. In a Chapter 13 bankruptcy, in which creditors are paid over several years, debtors must file the certificate before the last payment is made through ...

What is life after bankruptcy?

Life after bankruptcy, when people need to rebuild their damaged credit, is also explored in the debtor education course. People can learn how to review credit reports and scores and how they can be improved during the class.

What is debtor education?

Debtor education course focuses on post-bankruptcy financial issues. After debtors have completed several steps in a bankruptcy proceeding, they are expected to take a financial management course that will help them avoid accumulating significant debt in the future.

Do you need credit counseling before filing bankruptcy?

Along with a credit counseling class before filing bankruptcy, there is a post-filing course that is required by the U.S. Bankruptcy Court before debts can be discharged. But rather than reviewing alternative ways for a person to resolve their current financial troubles, as the counseling course does, the second program is focused on ...