CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Is there Such a Thing as Bankruptcy School?

If you’ve heard anyone talking about bankruptcy and what’s needed to successfully use it to remedy financial problems, you might have heard mention of bankruptcy classes or bankruptcy school.

Bankruptcy is a tool that helps you get a fresh financial start, but it’s also a process that requires you meet a few obligations. You need to file your initial application, disclose your financial situation, and if you’re filing Chapter 13, propose a repayment plan.

You also need to participate in bankruptcy education. It’s a requirement and to complete your bankruptcy, you’ll need to show proof you participated.

Education Requirements for Bankruptcy

The first round of bankruptcy school you’re required to complete is bankruptcy credit counseling. This is a part of the initial filing process and you’ll need to complete the course before you can officially apply for bankruptcy.

The class is required to prevent people struggling financially from making a bad choice.

There are instances in which people felt pressured into filing for bankruptcy when it really wasn’t the right choice for them. Congress enacted the credit counseling course so people would understand their situation better before deciding to apply for bankruptcy.

Bankruptcy School And Education Tampa, St Petersburg, And Pasco Florida.The class is run by a third-party and gives you information about who will and who won’t benefit from bankruptcy. It’s required even if you’ve already decided bankruptcy is right for you, but if you’re unsure, the class can help you make a final decision.

Bankruptcy credit counseling must be completed within six months of filing for bankruptcy. If you take your counseling class and more than six months elapse, you’ll need to take the course again.

Financial Management Class

In addition to the credit counseling class you’ll need to take to enter into bankruptcy, you’ll need to take another class to get out of bankruptcy.

An approved financial management class is your ticket out of bankruptcy. This class helps debtors who have needed to use bankruptcy to remedy their financial situation understand how to avoid having to file a second time.

This isn’t to say that anyone is to blame for bankruptcy – the opposite is usually the case, though some people do need to file for bankruptcy because they had trouble managing their commercial debt and credit cards. The intention of the class isn’t to make you feel bad about your current situation, but to help you avoid problems in the future.

To learn more about why people file for bankruptcy, check out this article from Investopedia.com.

This second round of bankruptcy school typically takes an hour or two to complete and can be done online. Once complete, you’ll need to show proof of your attendance to have your debt discharged. Failing to show this proof means your case will be closed and you’ll receive no discharge.

In both cases, the class you take must be court-approved, so don’t just attend whatever class you happen to find online. Your attorney can help you find classes and if you’ve already found a class, can tell you if it meets the obligations set forth by the bankruptcy court.

If you have questions about bankruptcy school or the education requirements of filing for bankruptcy, we can help. Contact the Law Office of Robert M. Geller at 813.254.5696 for more information.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

5 Questions You Should Ask Before Filing for Bankruptcy

If you're considering filing for bankruptcy, it's important to know what you're getting into. What questions should you ask before...
Read More

Top 5 Reasons to File for Bankruptcy

What are the most common reasons to file for bankruptcy? There are many valid reasons for filing for bankruptcy. According...
Read More

5 Lessons Learned from Filing for Bankruptcy and How to Avoid the Biggest Financial Mistakes

People struggling with the biggest financial mistakes often consider filing for bankruptcy. Bankruptcy can provide relief from overwhelming debt. However,...
Read More

Things to Bring Along to Your Bankruptcy Consultation

Are you considering filing for bankruptcy? If so, one of the most important steps is to consult with an attorney...
Read More

Do You Need a Chapter 7 Bankruptcy Document Checklist? 3 Things You Need to Know

Filing for bankruptcy requires organization. A chapter 7 bankruptcy document checklist can make the process easier. No one ever plans...
Read More

Will a Bankruptcy Document Preparer Save Me Money?

While it may seem like hiring a bankruptcy document preparer will save you money in the short term, this is...
Read More

Robert Geller Shares Advice for People Considering Mortgage-Modification Programs

Robert Geller’s co-authored article “Can Debtors Afford Mortgage-Modification Programs?” was recently featured in the fall 2022 edition of the Consumer...
Read More

8 Things Clients MUST Tell Their Bankruptcy Attorneys in Tampa, Florida

If you are considering filing for bankruptcy, you must find a reputable bankruptcy attorney to help you through the process....
Read More

What Happens After I File for Bankruptcy?

Filing for bankruptcy is a process that comes with a lot of paperwork, stress, and financial strain. But what happens...
Read More

What are the Most Common Bankruptcy Questions to Ask?

Considering bankruptcy can be a difficult and emotional decision. What are the bankruptcy questions to ask? To help you make...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions