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.
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.
Even though there’s no set curriculum, the rules require certain topics regarding personal finance, financial literacy, and money management be covered. 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.
Certificate of completion for both credit counseling and debtor education are required but before the filer’s debts can be discharged.
Bankruptcy Credit Counseling and Debtor Education Courses: A brief overview. Before filing a Chapter 13 bankruptcy or a Chapter 7 bankruptcy, you will be required to complete two courses before you can receive your bankruptcy discharge.
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, without adding to what you owe.
Some of the key advantages are: Credit counseling is free, so it doesn't hurt to learn about your options and hear their advice. Often creates a debt management plan which consolidates bills into a single monthly payment, at a lower interest rate than what you were paying.
Credit counseling organizations are usually non-profit organizations that advise you on managing your money and debts and usually offer free educational materials and workshops. Debt settlement companies offer to arrange settlements of your debts with creditors or debt collectors for a fee.
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.
The U.S. Trustee Program determines the approved providers for each judicial district in all but two states. Alabama and North Carolina don't have a U.S. Trustee. There, the bankruptcy administrator decides which nonprofit organizations may provide credit counseling to filers.
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 .
One option you may want to consider before filing bankruptcy in Nebraska is consumer credit counseling. Under a consumer credit counseling plan your creditors may be willing to lower your interest rates and accept reduced payments if you enter a debt repayment plan.
While a debt repayment plan can eliminate much of the stress that comes from dealing with creditors and overdue bills, it does not mean you can forget about your debts. It will not erase all of your debt and provide a complete fresh start as Chapter 7 bankruptcy might. (see Nebraska Exemptions) You still are responsible for paying any creditors whose debts are not included in the plan. You are responsible for reviewing monthly statements from your creditors to make sure your payments have been received. If your repayment plan depends on your creditors agreeing to lower or eliminate interest and finance charges, or waive late fees, you are responsible for making sure these concessions are reflected on your statements.
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 purpose of the credit counseling course is to help a debtor review their finances and make sure that bankruptcy is the appropriate path for them to take. You will receive a certificate at the end of the course.
The course usually lasts for only two hours or so and can be completed online.
You will need to submit the certificate within 60 days of the date set for this meeting.
The court will remind a Chapter 7 debtor about the requirement through a specific notice, but debtors filing under other chapters will not receive a notice.
If you are filing a joint petition with your spouse, each of you will need to meet the credit counseling and debtor education requirement separately. There are a few exemptions from this requirement, but they are narrow. For example, a member of the armed forces might be able to get a waiver, as might someone who is filing an emergency 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 ...
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.
If you still cannot access your account, please send an email to support@debtorcc.org letting us know that you are having difficulty logging in. Please be sure to include your first name, last name, and last 4 digits of your social security number in the email, and we will help you log in to your account.
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.
When you sign up for online credit counseling certification, you’ll need to have the following information on-hand to complete the session: 1 Your monthly household income. 2 Your monthly household expenses. 3 Information about your assets – real-estate, vehicles (including recreational), savings, and retirement accounts . 4 A list of unsecured debt – what you owe on credit cards and personal loans. You won’t need account numbers – only the names of creditors and your current balance. 5 A list of secured debt – things like a mortgage or car loan where the loan is secured by property or possessions of some kind.
Before you actually file for Chapter 7 or Chapter 13 bankruptcy, the court will require you to get a certificate that proves you have gone through credit counseling.
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