History
In 2005 Congress passed the The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (Public Law No. 109-8, 119 Stat. 23, April 20, 2005). This act creates a new system that increases the proof necessary to qualify for filing for bankruptcy.
This new law made major changes to Chapter 7, Chapter 11, Chapter 12 and Chapter 13 of the Bankruptcy Code. In addition to these changes, Congress asked the U.S. Trustee to setup and define a “financial management training curriculum and materials that can be used to educate debtors who are individuals on how to better manage their finances.” (Public Law 109-8, Title 1, Section 105(a))
There are two educational requirements involved in a bankruptcy case:
- Credit Counseling: This is done before filing for bankruptcy
- Debtor Education Course: This is done after filing for bankruptcy, and needs to be completed before a discharge is granted for Chapter 7 (11 USC 727(a)(11)) or Chapter 13 (11 USC 1328(g))
Debtor Education Course
When the U.S. Trustee set up the “financial management training curriculum” they set forth some requirements. This debtor education course course:
- should take about 2 hours to complete
- can be completed over the telephone, in person or on-line
- should include the topics of
- Budget Development
- Money Management
- Use of Credit
- Consumer Information
- must be taken from one of the USDOJ / U.S. Trustee approved providers
- once completed, debtor will receive a certificate which can be shown to the bankruptcy court
debtclasses.com
So where does debtclasses.com fit into all of this? We are a USDOJ / U.S Trustee approved* provider for the debtor education course. We want to help you fulfill this step of the bankruptcy process as easily and economically as possible. We have made our course:
- easy to understand
- user friendly
- available any day, any time to fit your schedule
- inexpensive
When you have completed the course you will promptly receive a certificate that you can file with the bankruptcy court.