what is the post filing bankruptcy course

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

Post-filing Bankruptcy Credit Counseling Course Online. First Step: Disclosures for Post-Filing Debtor Education. Please read the following statements carefully so that you will understand the procedures for this session. 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 …

When do I need to take this post-filing debtor education course?

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 debtor education course in bankruptcy?

Once you have filed your Chapter 7 or Chapter 13 bankruptcy petition with the bankruptcy court, the 2005 update to the United States' bankruptcy law (BAPCPA) will require you to complete a two-hour Post-Filing Debtor Education Course with a provider such as Debt Reduction Services who has been approved by the Executive Office of the US Trustee (EOUST).

What is a personal financial management course in bankruptcy?

Post-Filing Bankruptcy Debtor Education is a required course that will need to be completed after filing for bankruptcy. Once the course is complete, you will be provided with a completion certificate, which will then need to be presented to the court before your debt will be discharged.

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 course 2 after bankruptcy?

Course 2: After Filing: After you file a bankruptcy case, and before your debts can be discharged, you must receive financial education from an approved agency. We are an approved agency. MMI is proud to offer bankruptcy counseling services in over 150 languages at no additional cost. All counseling is provided one-on-one with a NFCC and FCRA ...

What is the 2nd bankruptcy course?

2nd Bankruptcy Course (Taken AFTER filing bankruptcy)-Debtor Education -Pre-Discharge Course -Financial Management -Post-Filing Course. Here's what each of them mean so you can understand the concept of why they're calling the program by these titles; this makes it easier to understand.

What is the pre filing credit counseling course?

The Pre-filing Credit Counseling Course is required for persons who are contemplating filing U.S. bankruptcy proceedings and the Post-filing Debtor Education Course is required for persons who have filed U.S. bankruptcy proceedings. Persons filing bankruptcy are required to present a Credit Counseling Course completion certificate to file for ...

How much is the post filing debtor education course?

The fee for the the on-line post-filing Debtor Education course is $10. The $10 fee is good for either a single filer or joint filers if both attend the same session. New Users : Sign Up

What is the post petition course?

Post Petition Personal Financial Management Course In order to be eligible for a bankruptcy discharge, all individual debtors are required to take an instructional course concerning personal financial management per 11 U.S.C. § 727 (a) (11) and § 1328 (g).

How long does it take to file for bankruptcy in California?

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. Also called a 341 hearing, the meeting is between the debtor and the trustee appointed to oversee the case.

What is the second required bankruptcy course?

Step 2: Debtor Education Course Okay… after you’ve received your Bankruptcy Credit Counseling certificate and filed your bankruptcy documents with the court, it’s time to take the second required bankruptcy course, known as the Debtor Education course. This pre- discharge debtor ed bankruptcy class is part two of bankruptcy …

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 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.

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, ...

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).

How to complete the automated telephonic course?

To complete the automated telephonic course, call 800.214.7030 Monday through Friday, 8am-8pm ET and a representative will take payment and send you into the course – no appointment necessary. alternatively, you can register online 24/7 and follow the instructions to call into the course.

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.