What are the Financial Services and education requirements under the bankruptcy law?
Prior to filing for bankruptcy, you are required to attend a pre-filing counseling session from an approved non-profit budget and Financial Services agency. Prior to receiving a discharge, you are required to complete a course on personal financial management.
What takes place during the pre-filing counseling session?
The confidential 60 to 90-minute session includes an overview of the bankruptcy process, a discussion of possible alternatives to bankruptcy and a personalized budget analysis. You will also discuss the circumstances that led you into financial difficulty. You will receive a completion certificate that is valid for 180 days should you decide to move forward with the bankruptcy.
What occurs during the post-filing financial education course?
The course covers personal finance topics such as developing a spending plan, money management tools, understanding wise use of credit and consumer protection laws. This comprehensive overview will provide you with the tools you need to help prevent future financial problems. You will be given a certificate verifying completion of the course.
How can consumers considering bankruptcy select a reputable Financial Services agency?
If you are filing for bankruptcy or waiting for debts to be discharged after filing, you will need to select an organization approved by the Executive Office of the U.S. Trustees (or Bankruptcy Administrator) to provide such services. Apprisen is approved to provide bankruptcy counseling and education in most states.