Fulfilling the Debtor Education Requirement in Consumer Bankruptcy
If you qualify for debt relief through bankruptcy, there is one last step before your debts are discharged or your repayment plan is authorized. Every person who files bankruptcy must complete a financial management course designed to prevent similar financial straits in the future.
At the Nashville law firm of David F. Cannon, we know that most people do not wind up in bankruptcy because they are bad at budgeting. Most of our clients have suffered job loss, pay cuts, medical problems, divorce or other hardships. But the law is the law, and most people do benefit from the financial course. Our attorneys will explain everything you need to know about filing for bankruptcy and help you find an approved debtor education class.
Bankruptcy Financial Management Courses in Nashville and Statewide
When Congress overhauled the bankruptcy laws in 2005, it added two mandatory debtor education components: (1) a pre-filing credit counseling class and (2) a post-petition financial management class.
The financial management class is intended to teach debtors how to set goals, budget, save money, cut expenses and manage debt. The purpose is to help avoid a future bankruptcy, foreclosure or debt crisis. Most of our clients find the classes to be helpful.
The course is typically 1 to 2 hours long and you can expect to pay $25 to $50, depending on the agency. Whatever the cost, you need to be sure it is an approved provider. Courses can be completed in one session or in increments, and can be arranged to fit your schedule. They can be taken in person, or in many cases over the Internet. When you finish, you will receive a certificate of completion that can be filed with the Bankruptcy Court.
Board-Certified Tennessee Bankruptcy Lawyer
David F. Cannon is certified as a Consumer Bankruptcy Specialist by The American Board of Certification and The Tennessee Commission on Continuing Legal Education and Specialization. He has handled consumer and small business bankruptcies since 1991, and practices exclusively in this area of the law.
We can answer all your questions and concerns about bankruptcy, including the debtor education requirements. Call 615-800-3725, toll free at 877-696-8680, or e-mail our law office today to arrange a confidential consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
