As the U.S. Courts points out, the debtor education class must be taken after you file for bankruptcy. Failing to take it give the courts the right to reject your filing and discharge your debts. Keep in mind that you may only take such a class from a provider of which the U.S. Trustee Program approves. There is a fee to take the course, but it is possible to obtain a reduced rate or even a waived fee if your income falls below a certain level.
The course, which can be done online, in person and even over the phone, will typically only take a few hours to complete. During that time, you can expect to go over the following topics:
- How to save money effectively
- How to manage your money
- How to make and keep a budget
- How to set and then reach your financial goals
- How to use credit wisely
- How to deal with a financial crisis
You may also learn about consumer protection. Often, people who file for bankruptcy can be targets of scams.
If you have filed for Chapter 7, you have 60 days from the date that was set for the meeting of creditors to finish the course. If you filed for Chapter 13, you simply must finish it before you make the last payment according to your plan. Once you complete the course, you will have to file the certificate with the court as proof.
While this information may be useful, it should not be taken as legal advice.