What are the credit counseling and debtor education requirements?
The 2005 bankruptcy laws require people get financial education to help with life before and after bankruptcy. This includes a pre-bankruptcy credit counseling course and a post-bankruptcy debtor education course. Before someone can file bankruptcy, he or she must obtain a credit counseling certificate from an agency approved by the U.S. Trustee’s Office. Things covered in the credit counseling briefing include an evaluation of your personal finances, alternatives to bankruptcy and personal budgeting. We can help you find a convenient course and online or phone courses are available. After filing bankruptcy a debtor must complete a trustee-approved debtor education course, which covers essentials of personal finance, such as budgeting, money management and credit use. The debtor must submit the certificate of completion in order to receive a discharge from debt.
