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CREDIT COUNSELING AND FINANCIAL MANAGEMENT COURSES

IMPORTANT: THIS FIRM MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR CURRENT STATUS OF ANY LAW, CASE, ARTICLE OR PUBLICATION CITED HEREIN OR LINKED TO.  WARNING – SOME OF THESE REFERENCES ARE PRE-BAPCPA.

SUMMARY: As of 2005 the United States Trustees have procedures for approval of non-profit budget and credit counseling agencies and for approval of providers of a personal financial management instruction course under the Bankruptcy Code. Individual debtors are required to consult with the approved agencies to receive a briefing on the opportunities for a credit counseling and budget analysis, within 180 days before filing for bankruptcy relief (11 U.S.C. 109(h)(1)), and to consult with approved providers of a personal financial management instructional course, after filing for relief, before receiving a discharge of their debts (U.S.C. 727 (a)(11)). The only companies that may offer these services MUST be approved by the United States Trustees.

SUMMARY: As of 2005 the United States Trustees have procedures for approval of non-profit budget and credit counseling agencies and for approval of providers of a personal financial management instruction course under the Bankruptcy Code. Individual debtors are required to consult with the approved agencies to receive a briefing on the opportunities for a credit counseling and budget analysis, within 180 days before filing for bankruptcy relief (11 U.S.C. 109(h)(1)), and to consult with approved providers of a personal financial management instructional course, after filing for relief, before receiving a discharge of their debts (U.S.C. 727 (a)(11)). The only companies that may offer these services MUST be approved by the United States Trustees.