Debtor Education: Learning How To Make The Most Of Your Opportunity For A Fresh Financial Start

Feeling Overwhelmed With Bankruptcy? Contact A Top Bankruptcy Lawyer From Schererville To Help Ease Your Process.

In a previous post, the requirement for bankruptcy pre-filing credit counseling was discussed. This is one of the requirements a debtor must meet when filing for bankruptcy. Indiana also requires the completion of a pre-discharge debtor education course. As per the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), debtors who want to have their debts discharged through a Chapter 7 or Chapter 13 bankruptcy must complete a personal financial management session with an approved counseling agency.

What Is A Pre-Discharge Debtor Education Course And Why Do I Need To Take It?

Filing for bankruptcy does not mean you are a bad person or that you have no idea how to take care of your finances. In fact, many individuals who file for bankruptcy reach that point through no fault of their own. Perhaps they lost their jobs in those years of a slow economy and never fully bounced back, or perhaps unexpected medical expenses arose that required extraordinary financial maneuvering and other debts had to take a back seat to the more pressing health-related bills. Whatever the situation was that brought a debtor to the point of filing for bankruptcy, they have likely been struggling with their financial distress for a while. The Debtor Education Course is designed to help teach you how to become financially responsible again after your bankruptcy and to make the most of the fresh start a bankruptcy allows you. Learning to budget and plan for financial emergencies can help you avoid finding yourself in a bad financial situation again in the future.

When Do I Complete The Debtor Education Course?

Unlike the pre-filing credit counseling course, the Debtor Education Course is taken after a bankruptcy has been filed. Completion of the course is required before your debts can be discharged through bankruptcy. When you complete the course, you get a certificate to show your successful completion of the course.

Where Do I Go For This Required Course?

Many places exist that offer this Debtor Education Course and it is likely that no matter where you reside in Indiana, there is one close to you. You may receive the best guidance about where to go for the course from your bankruptcy attorney. An online Debtor Education Course is also available, which many debtors may find extremely convenient. The online course and its 24/7 availability offers a workable solution for everyone’s schedule.

Ready To Get Started? Contact a Merrillville Bankruptcy Attorney

If you are thinking about filing for bankruptcy, you will want to speak with someone who can guide you through the process as smoothly as possible. The bankruptcy attorneys at the Whitten & Whitten are available to help with your questions and concerns and will be there with you every step of the way through the often-confusing bankruptcy process. Contact us online or call us at 219-756-0555 to learn how we may help you get started on your path back to financial health.