how long does a bankruptcy course good for?

Full Answer

When do I take the bankruptcy course?

The course is taken after your bankruptcy has been filed but before you receive your discharge. The financial strategies you learn will help ensure your success after your bankruptcy is over.

How long does it take to get out of a bankruptcy?

In a Chapter 7, filing to discharge is about four months; in Chapter 13 it’s three to five years. But, too often, the real gating issue is getting ready to file.

How long does bankruptcy credit counseling take?

A: The pre-​​filing bankruptcy credit counseling course takes a minimum of 60 minutes to complete. The pre-​​discharge debtor education course takes a minimum of 2 hours.

Is second bankruptcy course safe to use?

Yes, Second Bankruptcy Course is committed to maintaining your privacy and online confidentiality, including the use of special encryption to protect your personal information. Please see the Privacy Policy for more information. How long is the post filing debtor education course? The post-filing debtor education course takes a minimum of 2 hours.

What Is The Debtor Education Course Requirement?

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...

Who Must Take The Debtor Education Course?

With a few exceptions, all Chapter 7 and Chapter 13 bankruptcy debtors must complete a course in debtor education before they can receive a dischar...

Approved Debtor Education Course Providers

You must take the debtor education course from a provider approved by the U.S. Trustee (or the Bankruptcy Administrator if you live in Alabama and...

When Do You Have to Complete The Debtor Education Course?

If you file for Chapter 7 bankruptcy, you must take the debtor education course and file your certificate of completion (discussed below) with the...

How Much Does The Debtor Education Course Cost?

The cost of the debtor education course will depend on the provider you select. But the new rules published by the Executive Office for U.S. Truste...

What Happens During The Debtor Education Course?

You can usually take the debtor education course in person, over the phone, or on the Internet. Regardless of the method of instruction, the course...

Filing Your Certificate of Completion

When you complete the debtor education course, you must file a form called Debtor’s Certification of Completion of Postpetition Instructional Cours...

How long is a credit counseling certificate good for?

Your certificate of completion of credit counseling is valid for 180 days (about 6 months). After this time, the certificate expires, and you are required to retake the session all over again to receive an updated certificate. This is because your financial situation can change drastically over this long period of time, and so our counselors are required to conduct a new credit counseling session. You can simply log in to your pre-existing account, and you will have the option to reset it, and start from the beginning again.

What does a financial counselor do?

Specifically, the counselor will be analyzing your current financial situation, discussing the factors that caused that financial situation, and assist in developing a plan to respond to those financial problems without incurring negative amortization of debt.

What is a credit counselor?

Specifically, the counselor will be analyzing your current financial situation, discussing the factors that caused that financial situation, and assist in developing a plan to respond to those financial problems without incurring negative amortization of debt.

Is credit counseling a nonprofit?

The credit counseling session must be taken from an approved, nonprofit provider. CC Advising is approved in all U.S. States and territories, and not every provider is, so you definitely want to check to see whether the provider you choose is approved, either by the US Trustee’s office or by the Bankruptcy Administrators (in Alabama and North Carolina).

Do you have to take credit counseling before filing for bankruptcy?

The first credit counseling session is generally required to be completed prior to filing for bankruptcy. Many clients take our course before they even meet with a bankruptcy attorney. However, there is no requirement that you have to be considering bankruptcy or that you file bankruptcy in order to take our course.

How long does it take to complete a financial questionnaire?

You go at your own pace. Typically, most of our clients take an average of somewhere between 60 to 90 minutes to complete the entire session, but more or less time may be appropriate depending on your particular situation. While our course is not timed, you do want to make a good faith effort to fill out the financial questionnaire to the best of your ability.

Is a chat with a counselor timed?

You also want to make sure you read all of the various sections to make sure you have a full understanding prior to your chat with a counselor. Your chat with a counselor is also not timed, but the counselor does have specific areas they need to cover with you to ensure you have a complete session.

What is Martindale Nolo?

Nolo is a part of the Martindale Nolo network, which has been matching clients with attorneys for 100+ years.

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 ...

What courses do you need to take to file for bankruptcy?

When you file for bankruptcy, you'll complete two courses—a credit counseling course and a debtor education course. If you're unsure which to take or how to find approved providers, these basics will help:

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 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.

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.

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.

How to get a case number if my attorney has not filed?

There are 3 main ways to get this information: Call VCIS (Voice Case Information System) at: (866) 222-8029 (automated line) Ask your attorney. Ask the bankruptcy court.

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 credit counseling?

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

How to contact Beadviser?

Our telephone number is 1-855-976-1700.

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.

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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 long does it take to complete bankruptcy counseling?

A: The pre-​​filing bankruptcy credit counseling course takes a minimum of 60 minutes to complete. The pre-​​discharge debtor education course takes a minimum of 2 hours. Theses time requirements conform to the EOUST and the Alabama Bankruptcy Administrators' program guidelines.

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 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 ...

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 a B23 form?

A: Form B23 , also known as Form 23 Debtor’s Cer­ti­fi­ca­tion of Com­ple­tion of Instruc­tional Course, is a form stat­ing that you cer­tify that you have com­pleted a course in per­sonal finan­cial man­age­ment. This Debtor’s Cer­ti­fi­ca­tion of Com­ple­tion must be filed with the Bank­ruptcy Court in accor­dance with fil­ing dead­lines required for Chap­ter 7 or Chap­ter 13.

Is Access Counseling approved by the EOUST?

A: Yes. Both Access and BKClass Inc. have been approved by the Executive Office for the United States Trustees (EOUST). Back to top. Q: In what states are Access Counseling Inc. (Access) and BKClass Inc. authorized by the Executive Office for the United States Trustees ( EOUST ) to issue certificates that satisfy the court requirements ...

What classes do you need to take after bankruptcy?

Debtor education, post-filing course, pre-discharge course, and personal financial management class all refer to the same class. This is the class you need to take after your bankruptcy case is filed.

How long is the post filing debtor education course?

The post-filing debtor education course takes a minimum of 2 hours. This time requirement conforms to the Executive Office for U.S. Trustees (EOUST) minimum program guidelines.

How much does a post bankruptcy education course cost?

Our post-filing debtor education course is available for $20. If you are filing a joint bankruptcy, you are only required to pay one fee to take the course.

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).

How to start a telephonic course?

You can begin the course online at anytime or call 800.214.7030 Monday through Friday, 8am-8pm ET and a representative will take payment and send you into the telephonic course.

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.

What does "approved" mean in bankruptcy?

Approved 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 get a car loan after filing for bankruptcy?

Within about six months of having filed for bankruptcy, you may receive offers for a collateralized credit card or low limit credit card. Some clients get a car loan or a new car lease within a year and a half to two and a half years of their bankruptcy being discharged.

What is the job of a trustee?

So, one of the jobs of the trustee is to make sure that all of the creditors are treated equally.

How long does bankruptcy stay on record?

A bankruptcy should stay on record for about seven years, but once a client gets a new credit card or a collateralized credit card, the effect of the bankruptcy on their credit report will diminish over time. Of course, this is dependent upon timely payment of the new bills.

What happens if you go to a 341 bankruptcy meeting?

When someone goes to the 341 bankruptcy creditors meeting, the trustee will ask them whether or not they have paid any creditor within the last six months. If they have, then the trustee can basically move to recapture those funds as preferential payments to a certain creditor.

How long does it take to file for bankruptcy in Chapter 7?

How Long Does It Take To Go Through A Chapter 7 Bankruptcy? Once a case has been filed, it typically takes 30 to 40 days to have a 341 creditors meeting. If everything is acceptable to the trustee at the creditor’s meeting, then the court will issue a discharge 45 days after that meeting.

Can you only qualify for a collateralized credit card?

If a person can only qualify for a collateralized credit card, then they’ll deposit the sum of the credit limit with the credit card issuer and then use the card like a regular credit card.

How long does it take to get a credit counseling certificate?

You'll prove that you've taken the credit counseling course by filing the certificate of completion along with your bankruptcy paperwork (no later than 15 days after your bankruptcy filing date). You'll also receive a copy of any repayment plan you may have worked out with the agency.

How to find approved credit counseling for bankruptcy?

You can find an approved provider by visiting the U.S. Trustee's website. Click on the link entitled "Credit Counseling & Debtor Education" and then "List of Approved Credit Counseling Agencies." After the list populates, scroll down until you find your court's jurisdiction. You'll want to choose a provider that falls in that section to ensure that you get credit for the course.

What is Martindale Nolo?

Nolo is a part of the Martindale Nolo network, which has been matching clients with attorneys for 100+ years.

What is the second course in bankruptcy?

The Second Course: Post-Bankruptcy Debtor Education. Bankruptcy filers must take a second course—called debtor education —after filing for bankruptcy. The debtor education course provides the filer with financial management tools, such as tips for creating a budget and rebuilding credit after bankruptcy.

What is debtor education?

The debtor education course provides the filer with financial management tools, such as tips for creating a budget and rebuilding credit after bankruptcy.

How long do you have to get credit counseling before filing for bankruptcy?

show that you received credit counseling from an agency approved by the U.S Trustee's office within the 180-day period before you file your bankruptcy, and

What is a counseling agency?

The counseling agency usually prepares a budget based on your income and expenses, and then review your options for repaying the debt. In most cases, the agency confirms that you don't have any feasible options for dealing with the debt other than filing for bankruptcy.

What are the obligations of a debtor after filing bankruptcy?

The debtor’s obligations after filing are few: show up at the 341 meeting, and complete the post bankruptcy education class.

What are the actions of a Chapter 13 debtor?

But in most districts, Chapter 13 debtors have few action items: make the payments to the trustee, provide requested updated information, and take the debtor education class.

How long does it take to get discharged from Chapter 7?

In a Chapter 7, filing to discharge is about four months ; in Chapter 13 it’s three to five years. But, too often, the real gating issue is getting ready to file. How long will it take you to get your attorney all the needed information. And that’s a timeline that you, the client, control.

Does it depend on how committed the debtor is to get out of under the financial problem?

It seems to depend on how committed the debtor is to get out from under the financial problem.