Debtor Education Course

In order to file a personal bankruptcy, either Chapter 7 or Chapter 13, you have to complete a course in Credit Counseling. This was meant to prevent people who really did not need to file from doing so, but it has just created a booming industry where you must usually pay $50.00 in order to get the required certificate. It is essentially an additional filing fee except that it goes to private companies. This certificate is the “ticket in”.

There is also a “ticket out”. Within thirty days of your meeting of creditors, you will have to complete a Debtor Education (a.k.a. Financial Management) course. You have to pay another fee (often another $50.00) in order to obtain this certificate. No certificate and no discharge in the bankruptcy. I was excited for five distinct reasons to discover, though, that Dave Ramsey’s group has begun to offer the “ticket out” – the Debtor Education course online. First, I know they will come at the issue from a biblical perspective. Second, Dave Ramsey had to file bankruptcy at one point and so he can relate to what you are going through. Third, they have designed the course to hold your interest. Fourth, it is less expensive than most of the other places. Fifth, and most importantly, they have a real message of hope in the material that will bless you.