Posted on: 1 April 2021
To successfully file for bankruptcy, there are several requirements that filers had to meet. Educational classes are one of those requirements, and you cannot get your debt discharged if you don't take the classes. One of those classes has to be done before you file and the other has to be completed before your case is final. Read on to find out more about the debtor education class.
Part of the Process
Bankruptcy is far from just a single legal action. After you take the first class, which is the credit counseling class, and file, your creditor's meeting will be scheduled. Take the class as soon as you can since your bankruptcy cannot move forward without proof of taking the class.
How to Arrange for the Class
Classes are provided by certain approved credit agencies only. Many take the class online, and that is probably the most convenient way to do things. You can also take the class through the mail or by phone. This class is short, and you can expect to spend about an hour or two to complete it. Be sure to obtain the certificate after you are done and provide it to your bankruptcy lawyer. They will forward it to your Chapter 7 bankruptcy trustee.
If You Cannot Take the Class
Fortunately, the bankruptcy courts do allow some people waivers so they don't have to take this class. If you fall into any of the below categories, speak to your bankruptcy lawyer about a waiver:
- You have no internet or other access and no local classes are available.
- You have a mental or physical condition that makes it challenging or impossible to take the class.
- You are active-duty military currently overseas.
Coping With the Cost
Unfortunately, this class costs money and many Chapter 7 filers have very little money to pay for it. Class costs vary from place to place but they are about $50.00 or so. If your financial situation is dire enough, you may be issued a waiver that either reduces or eliminates the cost of the class.
Life After Bankruptcy
The debt education class is focused on information about moving forward with a fresh start. That means you will learn about obtaining credit in the future, monitoring your credit report and score, managing your budget, and more. To find out more about this class and anything else about bankruptcy, talk to a bankruptcy law firm, such as Brian R. Cahn & Associates, LLC.Share