28 May Which Financial Management Course Should I Choose?
As of October 17, 2005, each debtor filing a new chapter 7 or chapter 13 voluntary bankruptcy case must comply with Section 111 and Section 727 in order to receive a discharge of debts.
Commonly known as the Financial Management requirement, these sections require that a debtor must complete an instructional course in personal financial management, from an approved agency, before the court may issue an order of discharge. Failure to complete this program will result in the closing of the case without discharging the debt.
Over the past year and half, I found two agencies, each approved to provide the required instructional program. These agencies are:
Institute for Financial Literacy, Inc.
Hummingbird Credit Counseling and Education, Inc.
Both agencies offer convenient internet or toll-free telephone service. My clients have satisfactorily completed programs with both companies.
Andy Miofsky, Esq.
Latest posts by Andy Miofsky, Esq. (see all)
- Why does the IRS file liens? And what you can do about one. - September 21, 2018
- Social Security Income: Invisible Money Bankruptcy Cannot Touch. - December 19, 2016
- What can and cannot be included on a credit report? - December 21, 2015
- Use Exemptions to Protect Your Property in Bankruptcy - January 20, 2014
- A profile of the typical person who files bankruptcy - January 13, 2014