what do you need for the after bankruptcy course

Full Answer

What classes do I need to take after filing 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. The Second Bankruptcy Course can be completed online or by phone in both English and Spanish.

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.

What credit counseling should I take before filing bankruptcy?

You should first take the pre-​​filing bankruptcy credit counseling course . The pre-​​filing bankruptcy credit counseling course is also known as a pre-​​petition counseling session or a budget briefing.

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.

What is a 423 form?

Bankruptcy Official Form 423 informs debtors of their requirements to complete the second class. Officially, the class is called a “Financial Management Course.”

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 debt education?

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. The financial strategies you learn will help ensure your success after your bankruptcy is over.

How soon after bankruptcy can I buy a car?

Ideally, you should at least wait about six months before you apply for an auto loan. That gives you time to repair your credit and rebuild credit, too. You make payments on any loans you have left to build a positive credit history. If possible, you can get a secured credit card to build more credit history faster.

Is it true that after 7 years your credit is clear?

Highlights: Most negative information generally stays on credit reports for 7 years. Bankruptcy stays on your Equifax credit report for 7 to 10 years, depending on the bankruptcy type. Closed accounts paid as agreed stay on your Equifax credit report for up to 10 years.

How long is the financial management course?

It can take between 6 – 12 months to complete one NATED Course. To complete the entire NATED Programme (N4, N5, N6 National Certificates and N6 National Diploma) takes between 18 – 36 months to complete.

What kind of debt is student loan?

unsecured installment debtsType of loan: Student loans are unsecured installment debts, but the payment terms are more flexible than other loans. Interest rates: Interest rates on student loans vary.

What are considered student loans?

Generally, there are two types of student loans—federal and private. Federal student loans and federal parent loans: These loans are funded by the federal government. Private student loans: These loans are nonfederal loans, made by a lender such as a bank, credit union, state agency, or a school.

Getting a Fresh Start

If a creditor gets a judgment against you, it will then take steps to collect on that judgment. The creditor can collect by garnishing your wages, or selling some of your assets or property. Before the judgment creditor does this, it must first find out whether you are employed, how much money you make, and what assets you own.

Maintain Financial Health With These Nolo Books

Clean up your credit, create a budget, and avoid overspending with this bestseller. You'll get sample credit reports, text of credit reporting laws, and more.

Postbankruptcy Discrimination: What Is and Isn't Legal

There are laws that will protect you from most types of post bankruptcy discrimination by the government and by private employers.

Getting Credit Cards, Loans, and Mortgages After Bankruptcy

Getting a mortgage after bankruptcy can be challenging. But if you work hard to get control of your finances and improve your credit history, and be selective about when and where you apply for a home loan, you will eventually be able to buy a house. Depending on your circumstances, that day might be sooner than you think.

How much does it cost to take the second bankruptcy course?

This course is taken after you file for bankruptcy and the cost is $14.95 per household . If you need to register for the First Bankruptcy Course, which is taken before you file for bankruptcy, please click here.

How long does it take to get a refund for a certificate of completion?

Once a certificate of completion has been generated, there will be no refund granted. A refund requested within 4 months of the initial purchase date will be granted in the same form of payment used to pay for the course.

What is DebtorEdu?

DebtorEdu is approved to issue certificates evidencing completion of a debtor education course in compliance with the Bankruptcy Code. Approval does not endorse or assure the quality of a Provider's services. This course is available on the Internet 7 days a week, 24 hours a day, 365 days of the year.

Does DebtorEdu reimburse for attorney fees?

Likewise, DebtorEdu and its agents and employees will not seek attorneys' fees or costs in arbitration unless the arbitrator determines the claims are frivolous.

Can DebtorEdu help with bankruptcy?

The counselors at DebtorEdu may answer general questions about bankruptcy but are prohibited from providing legal or tax advice. If you require legal or tax advice, please seek the assistance of an attorney or tax professional. Our policy prohibits us from paying or receiving referral fees for the referral of debtors.

Does the fee waiver apply to debtor education?

If you are eligible and the above partial fee waiver factors do not apply, you will receive a full fee waiver. The fee waiver only applies to the debtor education course fee. The fee waiver does not apply for any upgrades or any other products or services offered by DebtorEdu. Payment and Refund Policy.

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 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 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.

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).

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 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.

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 many classes do you need to take before filing for bankruptcy?

In both Chapter 7 and Chapter 13 bankruptcy, you (and your spouse if you file jointly) must take two courses before you receive a bankruptcy discharge (the order that wipes out qualifying debt)—one before you file your paperwork, and another afterward. Read on to learn about the second class, a personal financial management course known by several ...

What happens if you miss the deadline for filing bankruptcy?

Don't miss the deadline. If you do, the court might close your case. If that happens, you'll have to reopen your case and repay the entire filing fee. In Chapter 13 bankruptcy, you must file Form 423 and the certificate no later than the date on which you make your last plan payment.

What is debtor education?

It's a financial management course that you take after you've filed for bankruptcy but before you get a discharge. The debtor education course teach es you strategies that will help you stay financially healthy after your bankruptcy.

Do you have to be a nonprofit to take bankruptcy counseling?

Unlike the agencies approved to provide pre-bankruptcy credit counseling, the agencies providing debtor education courses don't have to be a nonprofit organization.

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, ...

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 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 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.

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 ...

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