what does the post bankruptcy course consist of

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.

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What courses will I have to take when I file bankruptcy?

Our bankruptcy services are available online as we do not offer in office or over the phone services, however, if you have a question and need assistance you may reach us at (855) 685-7843 and speak to a bankruptcy certificate specialist. Money Fit by DRS Inc. (DRS) has been educating consumers and clients about money and credit since 1996.

What is the second course after filing bankruptcy?

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. Along with a credit counseling class before filing bankruptcy, there is a post-filing course that is …

What is the bankruptcy debtor education course?

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

Where can I find the post-filing debtor education bankruptcy classes?

Any lawyer who represents a bankruptcy client should have a list of companies, and probably has a favorite company that they work with. After filing you have to take the second course called the Financial Management Course, or Debtor Education Course, or you won’t receive a discharge.

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.

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 AFT in banking?

The benefits of taking the post-filing course range widely, states the Academy of Financial Literacy (AFT), one of the agencies approved by the U.S. Department of Justice Trustee Program to provide the courses.

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 ...

Do credit reports show zero balance?

For instance, people need to be aware that once their debts are discharged by the court, each account listed on their credit report should show a zero balance and be noted as having been included in the 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.

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.

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 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).

Do you have to give consent to a lawyer to text you?

You are not required to provide consent as a condition of service. Attorneys have the option, but are not required, to send text messages to you. You will receive up to 2 messages per week from Martindale-Nolo. Frequency from attorney may vary.

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 ...

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.

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 ...

Does Access and BKClass protect your personal information?

A: Yes, Access and BKClass Inc. are committed to maintaining your privacy and online confidentiality, including the use of special encryption to protect your personal information. Please see our Privacy Policy for more information. Back to top.

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.

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.

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.

How many courses do you need to file for bankruptcy?

A person who files for bankruptcy must take two educational courses before receiving a bankruptcy discharge wiping out qualifying debt. Before you can file for Chapter 7 or Chapter 13 bankruptcy, you must consult with a nonprofit credit-counseling agency to see whether you can feasibly handle your debt load outside of bankruptcy, ...

Can a debtor afford a counseling fee?

However, if a debtor cannot afford the fee, the counseling agency must provide services free or at reduced rates by offering a sliding fee scale, as well as a fee waiver for people below a certain income level (150% of the poverty level for a family of equal size).

Do you have to agree to a repayment plan for bankruptcy?

Even if a repayment plan is feasible, you aren't required to agree to it. However, if the agency does come up with a plan, you must file it along with your other bankruptcy documents.

What happens if you fail debtor education?

This is why it’s important that you schedule your debtor education course as soon as possible so that if you fail it you can retake the course and still get your discharge.

How long do you have to take a 341?

You have 60 days from the initial date of your 341 meeting to take the debtor education course in a Chapter 7 case and file your certificate of completion with the bankruptcy court. This means that even if your 341 meeting is extended to another date, the clock starts ticking from the first date that was set. In a Chapter 13 case, you must take the court before you make your final plan payment. This is why it’s important that you schedule your debtor education course as soon as possible so that if you fail it you can retake the course and still get your discharge.

What does failure to take a course mean?

However, failure to take the course or to pass it could mean that your bankruptcy case is closed without a discharge. Fortunately, there are a few things you can do to fix the situation if you fail the course.

Can you pay extra to reopen bankruptcy?

You will need to pay extra to have your bankruptcy case reopened. Creditors may resume collections actions against you and seize your assets before you reopen your case. To avoid the costly consequences of failing your debtor education course you will need to act quickly.