Bankruptcy Attorney in Algonquin
It’s possible to file for bankruptcy more than once, although debtors generally try to avoid doing so. In an effort to improve the financial literacy of debtors, federal law requires all bankruptcy petitioners to complete two courses. At Cutler & Associates, Ltd., our bankruptcy attorneys work closely with Algonquin-area residents to assist in wrapping up their cases as quickly as possible. We can point you in the direction of court-approved course providers, and answer any questions you might have about them.
Bankruptcy Course Requirements
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) requires all bankruptcy filers to take both courses. You will first take the pre-filing class, which is usually referred to as the credit counseling course, budget briefing, or pre-petition counseling session. This course takes at least one hour to complete. You can take it online, in person, or over the phone from a court-approved provider. The primary purpose of the pre-filing course is to ensure that you understand the basics of the bankruptcy process, and the long-term effects that can result. Upon your successful completion, you’ll receive a certificate that must be filed with the bankruptcy court. Before receiving your debt discharge, you must take the second course. It’s usually referred to as the post-filing or pre-discharge debtor education course, or as the personal financial management course. If you’ve filed for chapter 13 bankruptcy, you must complete the course before your last payment. Chapter 7 filers must complete it within 45 days of the meeting of creditors. This course takes a minimum of two hours to complete. Its purpose is to improve your financial literacy. Once you complete this course, you’ll receive a certificate that must be filed with the court in order to get your debt discharge.
Bankruptcy Attorney Services
While it is possible to file for bankruptcy on your own, you may want to avoid doing so. Making mistakes on your bankruptcy paperwork may delay the process, putting your financial health in further peril. If you are facing endless debt collection calls, foreclosure, or threats of wage garnishment, get in touch with an attorney who can help you put a halt to these stressors as quickly as possible. Your bankruptcy attorney will ensure that all of your paperwork is completed correctly and that your best interests are represented during the bankruptcy process. Cutler & Associates, Ltd. is a law firm serving Algonquin and the greater Chicagoland area. We have over two decades of experience working with individuals who want to file bankruptcy so they can get out of debt and get a fresh financial start. We offer free bankruptcy consultations to help local residents understand their options