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.
The first bankruptcy course is also known as the pre-filing bankruptcy credit counseling, bankruptcy credit counseling, pre-bankruptcy credit counseling or credit counseling certification. The law requires that you must receive credit counseling within the 180-day period before you file your bankruptcy.
All individual bankrutpcy filers are required to complete pre-bankruptcy credit counseling and pre-discharge debtor education. These may not be provided at the same time. Credit counseling must take place before you file for bankruptcy; debtor education must take place after you file.
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.
The second credit counseling course is designed to give you useful financial information and help you better manage your finances.
The cost of the credit counseling courses is $50 or $25 for each session. To complete the second credit counseling course:
If you file a Chapter 7 you will need to take the course within 60 days after your 341 meeting and if you file a Chapter 13 you will need to take the course before your last payment.
The Act requires that individuals filing for bankruptcy complete a credit counseling course prior to filing. It also requires a debtor education course after filing but prior to discharge.
Complete the course Online. 1. Click Get Started. 2. Follow the on-screen instructions to fill in your registration details and pay for the course. ℹ. 3. The course will take approximately 2 hours to complete. You do not have to finish it at one time and can return to finish it at your own pace.
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).
The Executive Office of the United States Trustee (“EOUST”) states that “sessions should last approximately 60 minutes .”.
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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 ...
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.
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 .
Of course, this instructional course is required even if the reason for your bankruptcy filing had nothing to do with your financial management skills.
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.
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
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.
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.
The debtor education course provides the filer with financial management tools, such as tips for creating a budget and rebuilding credit after bankruptcy.
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.
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, ...
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.
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.
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 ...
By law, the U.S. Trustee Program does not operate in Alabama and North Carolina; in these states, Bankruptcy Administrators approve pre-bankruptcy credit counseling organizations and pre-discharge debtor education course providers. The following is a list of Bankruptcy Administrator approved providers in Alabama and North Carolina.
The first bankruptcy course is also known as the pre-filing bankruptcy credit counseling, bankruptcy credit counseling, pre-bankruptcy credit counseling or credit counseling certification. The law requires that you must receive credit counseling within ...
Your certificate will be available to download immediately upon completing the course and speaking to a credit counselor. We will provide the certificate for download in your account, email you a copy, and also send a copy to your attorney if you provided their email address. You may also request a physical copy of your certificate by mail.
Is this course a requirement for filing bankruptcy? Yes. The law requires that you must complete a pre-filing bankruptcy counseling course within the 180-day period before you file a bankruptcy case. This is a mandatory course.
The bankruptcy credit counseling course provided by DebtorCC.org is approved by the US Trustee. Is this bankruptcy course approved in Alabama and North Carolina? Yes . This course is approved in all districts of Alabama and North Carolina by the Bankruptcy Administrator.
Yes. Our bankruptcy course is approved to satisfy the requirements for both chapter 7 and chapter 13 bankruptcy cases.
DebtorCC.org is approved to provide bankruptcy credit counseling (first bankruptcy course) in all US states and territories. How long is the first bankruptcy course? The course is not timed. As long as you complete the course and speak to a credit counselor, you will be provided a certificate of completion.
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.
Credit counseling is designed to provide a clear picture of whether it’s possible to get back on solid financial footing without bankruptcy. The counselor will review your income and expenses, discuss alternatives and help you develop a personal budget.
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.
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 ...
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.
Credit counseling might seem like just one more hoop to jump through on the road to getting your finances in order. But remember: It might give you the tools to avoid bankruptcy in the first place or having to go through this again in the future.
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.