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Solutions for a Financial Crisis
The Debtor Education Course – Your “Ticket Out” of the Bankruptcy Process
The Debtor Education Course is a mandatory part of the Chapter 7 bankruptcy filing process, which must be completed after your bankruptcy attorney has filed your bankruptcy petition, but before you receive a discharge.
Courses are available in person, by phone and via the Internet. A course that is approved by the U.S. Trustee’s list will include information on creating a budget, managing finances, and using credit wisely.
Your bankruptcy lawyer can inform you where to take the debtor education course.
Is the Debtor Education Course Expensive?
Of course the cost will vary depending on a number of factors, including where you live and whether you sign up for an online, phone or live course. However, the U.S. Trustee’s office states that the average course runs between $50 and $100.
Law requires an approved agency to tell you the fees up front, without any extra cost for issuing the certificate.
When Should I Complete My Debtor Education Course?
The Debtor Education Course must be completed after you’ve filed your bankruptcy petition and before you receive your discharge. Because you will be filing for Chapter 7, you will only have a fairly small window of time during which the course must be completed.
How this Different from the “Credit Counseling” Briefing?
The Credit Counseling Briefing and the Debtor Education Course are both requirements for bankruptcy filing, but are completely separate. Each requires completion of a different program a separate certificate for proof that you completed both two programs.
You must receive proof of finishing the Credit Counseling Briefing before you file, and with some very limited exceptions, your bankruptcy case will be dismissed if you have not completed the Credit Counseling Briefing beforehand. The Debtor Education Course must be taken after filing, but before discharge.
Find a Local Bankruptcy Lawyer
If you have any other questions about the debtor education course you will be required to take, the credit counseling briefing, or any other Chapter 7 Bankruptcy questions, speak to a bankruptcy attorney as soon as possible.