Debtor education Course – A fresh start
If any person wants to file for bankruptcy, then he or she will have to file a case in the court. There are certain rules to be followed before filing the case in the court, or you will not be unable to discharge your debts. If you want to successfully discharge your debts, after that you will have to complete the 180 days counseling on the bankruptcy. This counseling course is categorized in to two that least for two hours. The first course is the pre filing course which is taken before the filing of the case in the court. Next is the post or debtor education course which is usually taken in between the period of applying the case in the court and the discharge of the debts.
These courses are completed through the interaction with the counselor wither through phone or in person. When the course is effectively completed, then you will receive a certificate of completion which is needed for the discharge of the debts.
The debtor education or the course of financial management must be taken after the filing of the case of bankruptcy in the court. Then only will you be able to discharge the debts. The debtor education course give s a highlight on the measures and the steps needed for the effective management of the money and the budget. This also gives the tips and on how to utilize the credits effectively in future. These courses are generally taken regardless of the types of bankruptcy’s you go for, whether it is chapter 7 or chapter 13 bankruptcies.
The debtor education course gives the person the best and the effective way for a fresh new financial start. The course comprises of the effective use of the budget as well as the money. This gives then the information and advices in order to prevent them from landing anymore in such situations. The course on the bankruptcy and the debtor education is very much required for the effective discharge of the debts.
In the subject of the chapter 7 bankruptcy case, the debtor education course must be taken within a period of 60 days from the meeting of the creditors. Here the debtor education course must be taken otherwise the bankruptcy case will be closed without any discharge. In the case of chapter 13 bankruptcies, it is needed that you finish this course before the court releases the case. It is better you take the case at the beginning or there is a chance that you may forget at the end which may effect in the concluding of the case without any discharge. In the course of chapter 13 case it may take about three to five years for the discharge of the debts through the repayment.
When the course of debtor education is finished successfully, you will get a certificate of conclusion which must be submitted at the court for the successful discharge of the debts. The certificate is filed along with the bankruptcy so that it assures the court that the person is liable for the bankruptcy.