Financial Management Course

Financial Management Course required. In order to receive a discharge of debt in either Chapter 7 or Chapter 13, the debtor must complete a Financial Management Course. §727( a)(11), §1328(g)

Who gives the course? The Financial Management Course is to be given by non-profit budget and credit counseling agency approved United States trustee (or bankruptcy administrator, if any). The clerk of the Bankruptcy Court shall maintain a publicly available list of approved agencies and courses. §111(a) & (b)

Course description. The course must be given by trained, experienced personnel, and use "learning materials and teaching methodologies designed to assist debtors in understanding personal financial management." It is to be conducted at facilities situated in "reasonably convenient locations," or, if effective, by telephone or Internet. §111(d)(1)

Course cost. The agency may charge a reasonable fee for the course, but it must also provide services without regard to ability to pay the fee. §111(d)(1)(E)