Bankruptcy filing is easy if you follow instructions

Many potential bankruptcy filers apparently do not understand the Debtor Certification Requirements added to the Bankruptcy Code in 2005. Pacific Rim Institute can help you navigate through the various educational requirements of the law.

Los Angeles, CA (prHWY.com) July 29, 2011 - Warning to Bankruptcy Debtors - Debt Counseling
Many potential bankruptcy filers apparently do not understand the Debtor Certification Requirements added to the Bankruptcy Code in 2005. Pacific Rim Institute (www.PacificRimCounseling.com) can help you navigate through the various educational requirements of the law.

The law now requires that Debtors complete a program in Bankruptcy Credit Counseling before they file their case in Bankruptcy Court. Credit Counseling must be completed not more than 180 days before they file and the certificate of completion must be filed with the Court. If it has been more than 180 days since Credit Counseling was completed Credit Counseling must be completed again a new certificate of completion obtained before filing. If Credit Counseling is not completed before filing it is possible that the Bankruptcy Judge may allow the debtor a few days to complete Credit Counseling and file the certificate of completion with the court. It is also equally possible that the Bankruptcy Judge may simply dismiss the case.

After filing and before receiving a discharge the debtor must complete a program in Debtor Education (Personal Financial Management) and file a certification of completion (Form 23) with the Court. Under the Bankruptcy Code the Bankruptcy Court is not permitted to discharge any debts unless the debtor completes the required course in Personal Financial Management and files the Certificate of Completion with the Court. If the course in Personal Financial Management is not completed and the certification of completion filed with the Court the Court will close the case without issuing a discharge. This means that the debtor no longer has the protection of the Bankruptcy Court and the creditors may proceed with their collection efforts.

These are simple provisions that are easy to follow. More importantly, failure to comply with them may result in the case failing and the debtors not getting the "fresh start" they had hoped for.
BKEDCERT.COM has been approved by the United States Department of Justice as a provider for both of these courses and we will try to help you obtain the certificates you need to file your bankruptcy case and to obtain a discharge. Please check the FAQ section on our website (www.bkedcert.com) where many of your questions will be answered.

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Tag Words: file for bankruptcy, debtor certification, bankruptcy certification

Categories: Banking

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