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Required Bankruptcy Courses – Chapter 7

Bankruptcy courses

Individuals filing for Chapter 7 bankruptcy must complete 2 courses.  The first course that an individual who is filing Chapter 7 must participate in is an approved credit counseling course.  This must be completed prior to filing for bankruptcy. The second course that an individual who is filing Chapter 7 bankruptcy must take is a class on personal financial management.  The personal financial management course must be completed after your Chapter 7 bankruptcy has been filed but before you get a discharge at the end of your case.

The first course an individual filing for Chapter 7 must complete in order to qualify for bankruptcy relief is credit counseling. You must 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. Once you complete the counseling, the agency will give you a certificate of completion that you must file no later than 15 days after your bankruptcy filing date. At the Law Offices of Siles & Foster, P.C. we prefer to file the certificate at the same time as filing your Petition.  The agency that you use will also give you a copy of any repayment plan you may have worked out with the agency.

The second course that you will be required to take is the debtor education course. It’s a financial management course that you take after you’ve filed for bankruptcy but before you get a discharge.  In Chapter 7 bankruptcy, you must file Form 423 and the certificate no later than 45 days after the date on which your meeting of creditors was first scheduled. Don’t miss the deadline. If you do, the court might close your case. If that happens, you’ll have to reopen your case and repay the entire filing fee.

If you are thinking about filing for Chapter 7 bankruptcy, give the Law Offices of Siles & Foster, P.C., a call at 530-898-9600 for a free consultation.

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