Financial Management Course - Ch 7

Under 2005 Bk. Reform (BAPCPA) (subject to certain exemptions) to receive a discharge under Chapter 7 an individual debtor (the "Debtor") must complete an approved personal financial management course (the "Course") and file Official Form 423 Certification About a Financial Management Course if the personal financial management course provider (the "Provider") does not notify the court that the Debtor has completed the Course.

List of approved agencies are available at: www.justice.gov/ust.

Chapter 13 See: Financial Management Course - Ch 13

References:

11 U.S.C. § 111; § 727(a)(11); § 1328(g)(1)

Fed. R. Bankr. P. 1007(b)(7) and (c); 4004(c)(1)(H); 4006; 5009(b)

Official Form 423 Certification About a Financial Management Course (Form available at: www.uscourts.gov)

Exceptions:

11 U.S.C. § 727(a) makes applicable under § 109(h)(4)

• Debtor is not able to complete course requirements (Debtor must file a motion for exemption from financial management course)

• • due to incapacity (mental) or disability (physical), or

  • due to being in active military duty in an active combat zone

  • debtor resides in a district the US Trustee has waived the requirement
     

• Certification is not required for cases filed prior to *October 17, 2005, even when the case converts, splits, or transfers.

Deadline Calculation for Individual Chapter 7 cases:

The docket event for the meeting of creditors sets the financial management deadline, for *60 days from the first date set for the Meeting of Creditors.

Filing Requirements:

• Course completed
   

• Official Form 423 filed by each individual debtor (the debtor may not file the certificate in lieu of the certification).
  
  OR
   

• Certificate of Debtor Education filed by personal financial management course provider for each individual debtor.
   

Docket Event:

[Bankruptcy> Other> Certification About a Financial Management Course (Official Form 423)]