Chapter 7 Bankruptcy: The Requirements
Find Out if You Qualify for Chapter 7 Bankruptcy
Chapter 7 Bankruptcy was designed to erase unsecured debts, including:
- Credit Cards
- Medical Bills
- Payday Loans
- Utility Bills; and more...
There are requirements for filing bankruptcy through Chapter 7, which include obtaining a credit counseling session and completing a debtor education course.
Chapter 7 requirements must be fulfilled in order for you to receive a discharge of your unsecured debts.
While the following page contains details about your Chapter 7 filing requirements, speaking to a local bankruptcy lawyer may be a great way to get even more information on what you need to do in order to receive a Chapter 7 debt discharge.
At Chapter7.Me, we can connect you with a local bankruptcy lawyer in little time – fill out our free bankruptcy evaluation form or call 1 (888) 632-0501, and we’ll quickly get to work connecting you with a nearby bankruptcy attorney from our nationwide network of sponsoring bankruptcy lawyers.
Where Can You Fulfill Your Chapter 7 Bankruptcy Requirements?
Please Note: Your bankruptcy requirements are not optional.
Unfortunately, many Chapter 7 bankruptcy cases are thrown out because the bankruptcy court discovers the bankruptcy filer did not successfully complete and/or file both bankruptcy requirements.
You must fulfill these requirements through an agency approved by the U.S. Trustee.
For a list of U.S. Trustee approved agencies that offer the financial counseling sessions, visit its official Web site.
Remember, you don’t have to sort through the Chapter 7 bankruptcy laws on your own—a bankruptcy lawyer can make sure that all of your bases are covered.
The Chapter 7 Credit Counseling Briefing
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires that every bankruptcy filer complete a credit counseling briefing within six months prior to filing Chapter 7 bankruptcy.
You can complete the credit counseling briefing in person, over the telephone or through the Internet.
An approved credit counseling consultation should include an assessment of your finances, discussion of the alternatives to Chapter 7 bankruptcy and assistance in mapping out a financial budget.
After you’ve successfully completed the briefing, you will receive a certificate that must be filed with the bankruptcy court.
The U.S. Trustee office reports that the average credit counseling briefing costs around $50.
For just $30, StartFreshToday.com offers a U.S. Trustee-approved online credit counseling consultation to fulfill your Chapter 7 bankruptcy requirement. Learn more about satisfying your credit counseling bankruptcy requirement.
Could Chapter 7 be right for you? Begin our free attorney evaluation form
The Debtor Education Requirement & You
The 2005 bankruptcy law also requires that everyone filing Chapter 7 bankruptcy complete a debtor education course. This must be completed after your bankruptcy lawyer filed your bankruptcy petition but before you receive your debt discharge.
The debtor education course is a personal financial management consultation intended to help you map out your new financial future. It should include information on creating a budget for yourself, managing your finances and using your credit judiciously.
When you successfully fulfill this bankruptcy requirement, you will receive a certificate that must be filed with the bankruptcy court.
The cost of a debtor education course varies depending on the company you choose and whether you decide to complete the course in person, over the phone or through the Internet. The U.S. Trustee’s office reports that you can expect to pay anywhere between $50 and $100 for the course.
For just $49, StartFreshToday.com offers a U.S. Trustee-approved online debtor education course to fulfill your Chapter 7 bankruptcy requirement. For $59, you can complete the course over the phone.
Still Have Questions About Your Chapter 7 Requirements?
If you decide to file Chapter 7 bankruptcy, it’s important to know the bankruptcy requirements so you ultimately receive the Chapter 7 debt discharge.
Should you have any additional questions about the Chapter 7 requirements, don’t hesitate to contact a bankruptcy attorney. Chapter7.Me is sponsored by extensive network of participating bankruptcy lawyers who are ready to answer your questions and listen to your concerns.
Connect to a local bankruptcy lawyer by filling out our free bankruptcy evaluation form or by calling 1 (888) 632-0501
The above synopsis of bankruptcy laws is by no means all inclusive
and is not intended to provide legal advice. These laws may have
changed since our last update and there may additional laws that apply
in your situation. For the latest information on these bankruptcy laws,
please contact a bankruptcy lawyer in your area.