In 2005, congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which made major changes to existing bankruptcy law. One of these changes included the addition of a requirement that debtors receive post-bankruptcy financial education from an approved credit counselor or counseling organization. After meeting this education requirement the attendee is issued a certificate. The attendee then submits the certificate provided by the credit counselor or organization as proof they completed the course. This certificate is different from and should not be confused with the certificate provided after attending pre-bankruptcy credit counseling.
What you will learn
Post-filing education includes topics such as managing money, using credit wisely, and building a budget. You can take the course on-line, over the phone, or in person. Don’t take this requirement to mean that the bankruptcy was somehow your fault. This practical money-management information can benefit anyone, no matter what their financial situation, and serves to help and strengthen your financial future.
Cost of the course
It usually costs $50 to $100 for the course. The price depends on the counseling organization you use and where you live. The organization has to disclose the fees before you start the course. If you cannot afford the fee, you can ask the organization for a waiver.
Where to go for counseling
The Department of Justice has a list of Approved Bankruptcy Counseling Agencies. Also, a Minnesota bankruptcy lawyer can provide you with a list of credit counselors.
Help from your attorney
There are many requirements for declaring bankruptcy. Getting pre-bankruptcy credit counseling and post-bankruptcy financial education are only two of the requirements. You need an experienced Minnesota bankruptcy attorney to assist you through the process of meeting every requirement and ensure that your bankruptcy filing is successful. At Behm Law Group LTD, we have many years of experience helping thousands of people like you. If you’re in a desperate financial situation, give us a call. We will guide you through the bankruptcy process and help you get the relief and protection you need.