what course do you do for bankruptcy

• The Courses. Before you file for bankruptcy, most people must take a credit counseling course that helps you explore alternatives to bankruptcy.
• Approved Providers. You’ll take the course from an agency approved by the Office of the U.S. Trustee. ...
• Forms to File. After you take the course, you’ll file Official Form 423 Certification About a Financial Management Course.
• Filing Deadlines. In Chapter 7 bankruptcy, you must file Form 423 and the certificate no later than 45 days after the date on which your meeting of creditors was first ...
• When You Must Get the Counseling. In Chapter 7 bankruptcy, you must file Form 423 and the certificate no later than 45 days after the date on which your meeting ...

Full Answer

What is a pre filing bankruptcy course?

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: You'll take the credit counseling course before bankruptcy. You'll take the debtor education course after filing your case. You'll find approved course providers on the US Trustee …

How does bankruptcy commence?

When you’re ready to file for bankruptcy, the first step is to take a mandatory pre- filing Bankruptcy Credit Counseling class with an approved provider such as Access Counseling Inc. A Simple Process. You can take the Access Counseling Inc. (“Access”) Bankruptcy Credit Counseling course online or by phone.

What is the second course for bankruptcy?

Jan 12, 2019 · Course 1: The Pre-Filing Credit Counseling Course. Everyone filing bankruptcy has to complete a pre-bankruptcy credit counseling course through one of the approved credit counseling agencies. The U.S. Trustee Program determines the approved providers for each judicial district in all but two states.

How to get a bankruptcy counseling certificate?

May 20, 2020 · Take Bankruptcy Course 2. After filing your bankruptcy forms, you will need to complete a Debtor Education Course from an approved credit counseling agency. It can be completed online or by phone and typically takes at least 2 hours and costs between $10 - $50, unless you’re eligible for a waiver.

Why should persons declaring bankruptcy be required to take a financial course?

Before you file for bankruptcy, most people must take a credit counseling course that helps you explore alternatives to bankruptcy. If filing for bankruptcy still makes sense to you after completing the course, you'll include the certificate of completion with your filing paperwork.

How much cash can you keep when filing Chapter 7 in NY?

If you are using the New York State exemptions the amount of cash you can exempt is $2,500 unless you own a home and plan on using the New York Homestead exemption. If you are using the Homestead exemption which can protect up to $150,000 in home equity in New York City then you may only exempt $2,500 in cash.

What is a 423 form?

Form Number: B 423. Effective onDecember 1, 2015. This is an Official Bankruptcy Form. Official Bankruptcy Forms are approved by the Judicial Conference and must be used under Bankruptcy Rule 9009.

Will I lose my house with Chapter 7?

If you do not have significant home equity and the mortgage on your home is still current, you will not lose your house if you file for Chapter 7 bankruptcy. Most people who file Chapter 7 bankruptcy are able to retain all of their assets, which can include your house.

Can I spend money after filing Chapter 7?

If you file a Chapter 7 bankruptcy petition and it is a “no asset” case, your spending after filing should reflect what you stated on your schedules. If either your income or your expenses change considerably while still in Chapter 7, again, you should consult with your attorney.Jul 27, 2019

Do you get money when you file bankruptcies?

So Who Actually Pays for Bankruptcies? The person who files for bankruptcy is typically the one that pays the court filing fee, which partially funds the court system and related aspects of bankruptcy cases. Individuals who earn less than 150% of the federal poverty guidelines can ask to have the fee waived.Jan 11, 2022

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...

Is this course a requirement for my bankruptcy case?

Yes. The law requires that you must complete a pre discharge bankruptcy course before you may be granted a discharge. This is a mandatory course.

Will this course satisfy the requirements for both chapter 7 and chapter 13 cases?

Yes. Our bankruptcy course is approved to satisfy the requirements for both chapter 7 and chapter 13 bankruptcy cases.

How do I get started with the second bankruptcy course?

To register for the second bankruptcy course, please visit: https://www.debtoredu.com/post-bankruptcy-course.aspx.

Do I have to take this course only when your customer service is open?

No. The course is available to take 24 hours a day, 7 days a week, and 365 days a year. You may register for the course and take it at any time.

When should I take the second bankruptcy course?

The second bankruptcy course should be taken after your bankruptcy case is filed. This is the second bankruptcy course that must be taken prior to...

What information do I need to register for the second bankruptcy course?

You need the following information to register for the second bankruptcy course: first name, last name, last 4 digits of your social security numbe...

Where can I find my bankruptcy case number?

Your bankruptcy case number (e.g., 20-12345) can be found on your bankruptcy paperwork. After you file a bankruptcy case, the court usually sends y...

Can my spouse and I take the bankruptcy course together?

Yes. You and your spouse can register and take the second bankruptcy course together or separately.

I mistakenly registered for the course without my spouse. Can I add my spouse onto the account at a ...

Yes. Please send an email to support@debtoredu.com with your request. Please include your first name, last name, last 4 digits of your social secur...

I took the first bankruptcy course with another course provider. Can I still take the second bankrup...

Yes. You are not required to complete both courses with the same company. We encourage you to take the second bankruptcy course with us as we provi...

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 is a bankruptcy certificate?

The certificate is how you prove to the court that you’ve completed the course.

How long is credit counseling?

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

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.

Do you need credit counseling for Chapter 7?

Is credit counseling required for Chapter 7? Yes, individuals who file any type of bankruptcy (Chapter 7, Chapter 13, or Chapter 11) have to complete this requirement. The credit counseling requirements exist to make sure that everyone filing bankruptcy knows about all available debt relief options .

How long do you have to take pre bankruptcy?

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 ...

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 credit counseling before filing for bankruptcy?

Take Credit Counseling. Every person who files for bankruptcy has to take a credit counseling course in the 6 months before their bankruptcy petition is filed with the court. This is a requirement in both Chapter 7 and Chapter 13 cases.

How often can you file for bankruptcy?

You can file bankruptcy under Chapter 7 once every 8 years . Chapter 13 bankruptcy is another type of bankruptcy available to consumers. The main difference to Chapter 7 is that you pay back some of your debts through the Chapter 13 trustee. Your monthly payment is based on how much you’re able to pay.

What is Chapter 7 bankruptcy?

Chapter 7 bankruptcy is a very effective tool for erasing credit card debt, medical debts, and most other unsecured debt. Although Chapter 7 is a liquidation bankruptcy, filers are able to keep all their property in more than 90% of all consumer bankruptcy cases in the United States.

When is a 341 meeting?

Your 341 meeting, or meeting of creditors, will take place about a month after your bankruptcy case is filed. You’ll find the date, time, and location of your 341 meeting on the notice you’ll get from the court a few days after filing bankruptcy. Due to the COVID-19 pandemic, all 341 meetings are held either by video conference or via telephone until at least October.

What happens if you own a car that you still owe?

If you own a car that you still owe on, you’ll have to let the bank and the court know what you want to do with it one one of your bankruptcy forms.

How long does it take to rebuild credit after bankruptcy?

Either way, once granted permanent debt relief in the form of the bankruptcy discharge, most people are able to rebuild their credit score in less than one year. Collect Your Documents.

Can you file for bankruptcy if you have cosigners?

If you have any cosigners, they will not be protected by your personal bankruptcy. If you have great credit when your Chapter 7 bankruptcy is first filed, your credit score will likely drop a bit once the bankruptcy filing is reported to the credit bureaus.

What is bankruptcy administrator?

The United States Bankruptcy Administrator Program, a bankruptcy estate administration program established by the federal judiciary, presently serves only the six federal judicial districts in the States of Alabama and North Carolina. The bankruptcy administrator program is separate from the U.S.

Who approves credit counseling in Alabama?

In Alabama and North Carolina, the bankruptcy administrator approves credit counseling and debtor education providers. Lists of approved providers for the six judicial districts in Alabama and North Carolina are maintained by the bankruptcy administrator for that district or bankruptcy court.

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

Credit counseling must take place before you file for bankruptcy; debtor education must take place after you file. Certificate of completion for both credit counseling and debtor education are required but before the filer’s debts can be discharged. Only credit counseling organizations and debtor education course providers ...

What is pre bankruptcy counseling?

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 to filing for bankruptcy. After filing bankruptcy, and after receiving your bankruptcy ...

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.