If you are thinking about filing for bankruptcy, you need to understand the process to begin your bankruptcy. Under bankruptcy law, you must complete two required courses: one before you file for bankruptcy (Pre-Bankruptcy Credit Counseling) and one after you file for bankruptcy (Pre-Discharge Debtor Education). These courses are required if you file for Chapter 7 or Chapter 13 bankruptcy. The credit counseling must be completed within 180 days before filing for bankruptcy and the debtor education course must be completed after filing for bankruptcy. Both of these courses must be provided by agencies approved by the U.S. Trustee Program. Two states, Alabama and North Carolina, do not come under the U.S. Trustee Program. In these states, courses must be approved by Bankruptcy Administrators.
First Bankruptcy Course
The first bankruptcy education course that you must complete is the Pre-Bankruptcy Credit Counseling. This course will usually involve an evaluation of your financial situation and the discussion of a personal budget plan. There will also be information about alternatives to bankruptcy. But be aware that the counseling agency cannot give you advice on whether to file bankruptcy or when to file for bankruptcy. Only an attorney can specifically advise you on bankruptcy options.
The counseling course can be given by phone or online and usually lasts 60-90 minutes. When you complete the credit counseling course, you will receive your bankruptcy certificate of completion from the agency. This credit counseling bankruptcy certificate must be filed with your bankruptcy petition.
Second Bankruptcy Course
The second bankruptcy education course that you must complete is the Pre-Discharge Debtor Education. This course is mandatory and your debts will not be discharged in bankruptcy until you complete it. The debtor education course is meant to provide you with skills to be a better financial planner and avoid any financial problems after your bankruptcy. The course is 2 hours long and includes a discussion about financial management and planning, including budgeting, managing money, and using credit wisely.
Like the credit counseling course, the debtor education course may be taken by phone or online. Just as with the credit counseling course, you will receive a bankruptcy certificate of completion from the agency. This debtor education certificate is necessary in order for the bankruptcy court to discharge your debts.
We Make the Education Process Simple and Affordable
You don’t need to worry about finding a course provider. We offer both the Pre-Bankruptcy Credit Counseling and the Pre-Discharge Debtor Education at affordable prices. The first credit counseling course is only $15 per household and the second debtor education course is only $19 per household. Other reasons to take the courses through us include:
- They are web-based and interactive
- They are available in both English and Spanish
- They cost the same whether you take it individually or with your spouse
- The certificates of completion are sent directly to you electronically
By taking our courses you will learn how to manage your finances and build a better and stronger financial future.
REGISTER NOW and take the first step towards a brighter future.