Credit counseling is counseling you must attend prior to filing bankruptcy. The credit counselor must be authorized by the US trustee involved in your bankruptcy case. You will receive a certificate to be filed with the Bankruptcy Court upon completion of your credit counseling. If you file jointly with your spouse you both must attend credit counseling. In almost every circumstance, if you fail to file a credit counseling certificate within the allotted time your bankruptcy case will be dismissed. During credit counseling, the credit counselor may propose a budget and a repayment plan, if you can afford such a plan (if so, it is to be filed along with the certificate).
Personal Financial Management Instruction is instruction you obtain after you file bankruptcy. The instruction must be from an agency authorized by the US trustee. It is only required for individual debtors involved in Chapter 7 and Chapter 13 bankruptcy cases. After the instruction is completed you must file Official Form B 23 with the Bankruptcy Court. If a certificate is provided, it should be attached to the Official Form B 23. In Chapter 7 bankruptcy cases, the certificate of completion of a course in financial management must be filed within forty-five days of the first scheduled Meeting of Creditors. In Chapter 13 cases, the certificate is due prior to the completion of all plan payments so that a discharge may be obtained. The failure to file the certificate of course completion in a timely manner, in either a Chapter 7 or Chapter 13 bankruptcy case, could result in your case being closed without a discharge. If this occurs, you will need to pay a filing fee to reopen the case in order to submit the certificate so that a discharge may be obtained.
Please visit the U.S. Trustee Program/Dept.of Justice for current information on approved credit counseling agencies and approved personal financial management instructional courses. And if you live in Denver, Aurora, Arvada, Brighton, Broomfield, Commerce City, Englewood, Highlands Ranch, Lakewood, Lafayette, Littleton, Northglenn, Westminster, Wheat Ridge, or Golden, Colorado, please feel free to contact me with any questions.
Kevin D. Heupel, Colorado Bankruptcy lawyer, 303-955-7570, Colorado Bankruptcy Help Email, personal bankruptcy free-consultation form.
