Are there forms for credit counseling and personal financial management instruction-and what is the difference between the two?
Credit counseling is the counseling that you obtain before you file bankruptcy from a credit counselor authorized by the United States Trustee. It is required for ALL individual debtors. When you complete your credit counseling from a credit counselor, the credit counselor will issue a certificate that must be filed with the Bankruptcy Court. If you are filing jointly with your spouse, both of you must complete credit counseling. The failure to timely file a properly issued credit counseling certificate will result in the dismissal of your bankruptcy case in almost all circumstances. The credit counselor may develop a proposed budget and repayment plan if it appears that you could afford such a plan (if one is prepared, it is to be filed along with the certificate). Personal Financial Management Instruction is the instruction that you obtain after you file bankruptcy from an agency authorized by the United States Trustee. It is only required for Chapter 7 and 13 individual debtors. Onc
Related Questions
- Are there forms for credit counseling and personal financial management instruction-and what is the difference between the two?
- Does my certificate of completion for bankruptcy credit counseling and the financial management course expire?
- What court-approved credit counseling and/or financial management agencies are currently available?
