Are you thinking about filing for bankruptcy? The first thing you need is to take bankruptcy classes that will teach you about the laws governing insolvency.
Economic conditions remain uncertain, and millions of Americans are still trying to pick up the pieces of their lives in an effort to get back some semblance of order financially. Families are facing overwhelming amounts of debt, and for many, filing for bankruptcy seems like the only way to salvage their situation. Under the Federal law, all debtors are required to get credit counseling from a government-approved organization within 180 days before they file for bankruptcy. In addition, they also need to complete a debtor education course in order for their debts to be discharged. These bankruptcy classes can be taken in person, on the phone, or online.
It is important to note that the Department of Justice’s U.S. Trustee Program approves organizations that can provide the required counseling and debtor education, so you need to look for these organizations. Residents of Alabama and North Carolina, in which the U.S. Trustee Program does not operate, should seek out court officials known as Bankruptcy Administrators who approve providers of bankruptcy education.
Online bankruptcy classes allow financially troubled individuals to fulfill the educational requirement from the comforts of their own home and at their own pace. Anyone who cannot afford to pay the required fees for the classes should ask for a fee waiver from the organization so they can get access to free online bankruptcy classes.
Approved Bankruptcy Online Classes
- Financial Education Services, Inc. (FES) by the National Financial Literacy Foundation, Inc. (NFLF) provides Online Pre-Filing Bankruptcy Counseling. Their online bankruptcy counseling program is available 24 hours a day, 7 days a week. NFLF and FES are approved and authorized by the Executive Office for the United States Trustee (EOUST) to issue certificates signifying an individual’s completion of the pre-filing credit counseling and the pre-discharge debtor education course in compliance with the Bankruptcy Code in a number of states. Aside from the online bankruptcy classes, individuals can also attend the sessions by telephone. In order to conform to the EOUST minimum program guidelines, the pre-filing bankruptcy credit counseling course takes a minimum of 60 minutes to complete, while the pre-discharge debtor education course takes a minimum of 2 hours to complete.
- InCharge Debt Solutions (personalfinanceeducation.com) offers credit counseling sessions and bankruptcy education that has received high marks from previous students when it comes to ease of use, visual aids and ability to complete in a timely manner. In addition to the online classes, those who complete the Pre-Discharge Debtor Education by InCharge Debt Solutions will be provided with a free e-book entitled “After Bankruptcy: What You Need to Know”, as well as free access to Grab Todd’s Cash, a financial literacy game.
- ConsumerBankruptcyCounseling.info allows individuals to complete pre-filing educational requirements through online bankruptcy classes. The program is authorized by the Executive Office of the United States Trustee (EOUST) to service all federal districts except for the District of Alabama and the District of North Carolina which do not participate in the EOUST program.