how long is a bankruptcy course cert

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 a second bankruptcy 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).

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.

What is the bankruptcy qualification process?

Bankruptcy is an unusual area of law because it's essentially a qualification process. The laws provide instructions for completing a 50- to 60-page bankruptcy petition, and because all rules apply in every case, you can't skip a step. The forms and resources below will help you find more information.

How many bankruptcy courses are there?

Bankruptcy Credit Counseling and Debtor Education Courses: A brief overview. Before filing a Chapter 13 bankruptcy or a Chapter 7 bankruptcy, you will be required to complete two courses before you can receive your bankruptcy discharge.

Why do you think the law requires a debtor to receive credit counseling prior to being allowed to file for bankruptcy?

The bankruptcy counseling and debtor education requirements were enacted to ensure that consumers have exhausted all other options and reduce the likelihood of a second visit to the bankruptcy court. The U.S. government must approve counseling organizations to qualify.

What can you not do after filing bankruptcies?

After you file for bankruptcy protection, your creditors can't call you, or try to collect payment from you for medical bills, credit card debts, personal loans, unsecured debts, or other types of debt.

Which is better Chapter 7 or Chapter 13?

Most people prefer Chapter 7 bankruptcy because, unlike Chapter 13 bankruptcy, it doesn't require you to repay a portion of your debt to creditors. In Chapter 13 bankruptcy, you must pay all of your disposable income—the amount remaining after allowed monthly expenses—to your creditors for three to five years.

When a business debtors files for Chapter 11 protection the debtor is allowed to continue in business?

A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.

What are two things creditors can do if a debtor defaults on a debt?

Either way, if you or the business can't pay back the debt, a secured creditor can repossess or foreclose on the secured property, or order it to be sold, to satisfy the debt.

Are all debts dischargeable in bankruptcy?

Not all debts are discharged. The debts discharged vary under each chapter of the Bankruptcy Code. Section 523(a) of the Code specifically excepts various categories of debts from the discharge granted to individual debtors. Therefore, the debtor must still repay those debts after bankruptcy.

What is a consumer proposal?

A consumer proposal is a formal, legally binding process that is administered by a Licensed Insolvency Trustee (LIT). In this process, the LIT will work with you to develop a "proposal"—an offer to pay creditors a percentage of what is owed to them, or extend the time you have to pay off the debts, or both.

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 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 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 ...

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 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 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 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 ...

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 get a bankruptcy education certificate?

Bankruptcy Education Deadlines. Those who file for Chapter 7 bankruptcy protection have 60 days after the first date set for the meeting of creditors to complete the debtor education course and file the certification of completion with the court.

What is bankruptcy education?

What Is Bankruptcy Debtor Education? In order to be discharged from Chapter 7 or Chapter 13 bankruptcy, you must complete a Pre-Discharge Debtor Education course. The purpose of this bankruptcy course is to help you remain financially secure and use credit wisely so you don’t end up in bankruptcy again.

What is the credit counseling requirement for bankruptcy?

It includes the requirement that all Chapter 7 or 13 bankruptcy petitioners complete approved credit counseling and provide to the court a certificate of completion from a U.S. Trustee-approved, nonprofit credit counseling agency. The law also requires all consumers who file for bankruptcy to successfully complete two bankruptcy courses prior to having debts discharged.

What is the form 23 for debtor education?

When you complete the debtor education course, you must file a form called Debtor’s Certification of Completion of Postpetition Instructional Course Concerning Personal Financial Management (Official Form 23) with the court.

How to get credit counseling after bankruptcy?

With Pre-file Credit Counseling, you’ll start online, then receive a personal counseling session by telephone to discuss the details of your current financial situation with a Certified Financial Counselor. Your counselor will help you build an accurate picture of your current finances, then give specific advice on actions you can take to improve it. You’ll also discuss short- and long-term financial goals and determine if there are any alternatives to bankruptcy. The counselor will explain consequences of bankruptcy and actions you can take to get back on sound footing after a bankruptcy.

What happens if you miss Chapter 13 bankruptcy?

Those who file for Chapter 13 bankruptcy must complete the class and file the certification of completion before your last repayment plan payment or before you file a motion for discharge. If you miss these deadlines , the court will dismiss your case. To reopen it, you must repay the bankruptcy filing fee.

What are the exceptions to debtor education?

Exceptions include: being on active duty in a military combat zone. a disability that prevents you from taking the course. no court-approved course providers are available in your area. a course isn’t available in a language you understand.

What is the number to call for a financial education course?

Your first step to a fresh start begins here. Call us at 1-866-859-7323.

Do I have to take credit counseling before filing?

No, I have not. Course 1: Before filing. Before you can file, you must complete a credit counseling course from an approved agency*, like us. Yes, I have. Course 2: After filing. After you file, and before your debts can be discharged, you must complete a financial education course from an approved agency*, like us.

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 does it take to get a bankruptcy certificate?

For Chapter 7 cases, it must be filed within 45 days after the creditors meeting. For Chapter 13, it must be filed no later than the date of your last payment in the repayment plan or the date of the filing for ...

How long does it take to get credit counseling before filing for bankruptcy?

The agency offering the credit counseling must be approved by the U.S. Trustee Program office. The session must take place within 180 days before filing for bankruptcy.

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

The credit counseling organization will provide a certificate once you’ve completed the counseling, and you must file it along with bankruptcy paperwork within 15 days after your bankruptcy filing date.

What do you need to know before filing for bankruptcy?

If you already have filed for bankruptcy, you must complete a separate debtor education course before the debts are discharged. The course teaches money management skills to help you avoid a second visit to bankruptcy court. It covers areas like budgeting, responsible use of credit, money management and dealing with financial emergencies.

How much does it cost to take a credit management class?

It covers areas like budgeting, responsible use of credit, money management and dealing with financial emergencies. The classes cost from $50 to $100 and take about two hours to complete in person, by phone or online. You will receive a certificate to prove you’ve completed the course.

Is bankruptcy the only way out?

You may feel that bankruptcy is the only way out, and you may be right, but credit counseling is required to give you an idea if you really need Chapter 7 or Chapter 13 bankruptcy protection.

Can I do credit counseling online?

Yes, in fact, most counseling sessions occur online or over the phone or both. The sessions usually take about an hour. For example, InCharge Bankruptcy Solutions offers Pre-file Credit Counseling that begins online. The next step is a personal counseling session by telephone to talk about your current financial situation.