The very last step in filing for Washington State bankruptcy is the debtor education course. This course will be taken after you have filed for bankruptcy and all stops are in place, but before the discharge is official. Debtor education may be performed in person, on the phone or on the internet. Sessions typically cost between $50 and $100, but fee waivers are available for those unable to pay the price.
During the Washington State bankruptcy debtor education course, you will learn how to create a personal or family budget, manage your finances and use credit wisely in the future. This course is mandatory and you will not receive your discharge if you do not complete it. This course is separate from the Credit counseling briefing you attend prior to filing for Washington State bankruptcy, but it is just as important.

The purpose of the debtor education course is to help you avoid financial issues in the future and take full advantage of the “clean slate” that your Washington State bankruptcy has provided for you.

Prior to filing for Washington State bankruptcy, you will be required to complete a court-approved credit counseling session. This requirement went into place after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was passed. If you cannot afford to pay, this session is provided free of charge and you will receive a certificate of completion that you must give to your attorney. If you are going to ask for the fee waiver, make sure you do so in advance. Be sure you choose a counseling organization approved by the United States Trustee’s Office.

There are a few different options when it comes to completion of your Washington State bankruptcy credit counseling briefing. Though it is required, you may be able to complete the session in person, over the phone or online. The bankruptcy credit counseling briefing will include a review of your financial situation, discussion of alternatives to Washington State bankruptcy and will also help you to begin designing a budget plan. These sessions average between 60 and 90 minutes in length.

The average cost of a credit counseling session is, according to the U.S. Trustee’s Office, about $50. Your fee will depend upon where you live and what type of session you attend. The agency must disclose all fees up front and you may request a fee waiver if you cannot afford to pay. This session is mandatory for those filing for either Chapter 7 bankruptcy or Chapter 13 bankruptcy.

There are very few exceptions to completing the Washington State bankruptcy credit counseling requirement. Exceptions can only be provided by statute and you will want to discuss your possible exception reasons with your attorney way before your filing date. He or she can help you decide if you might qualify for an exception and what documentation you will require. Bankruptcy attorneys and court judges are rarely able to wave the credit counseling requirement.

Once you have completed your Washington State bankruptcy credit counseling course and received your certificate, you will need to give that to your attorney so it can be included with the rest of your paperwork.

My Chapter 7 Washington State Bankruptcy is Being Handled by my Attorney. What Can I Do to Help?

Be forthcoming with all information regarding your income, property, financial records and assets. Do not destroy any history, violate court orders or use your credit cards at the last minute. Follow any advice your attorney gives you and things should go smoothly. The Chapter 7 bankruptcy process is designed to help you financially now and in the future.

I am Filing for Chapter 7 Bankruptcy. Can I Keep Anything?

Certain Washington State bankruptcy exemptions can protect some of your property from liquidation. Generally this applies to things that are are essential to your life or work. For example, expensive tools, if you are a carpenter, may be considered an exempt item. If you need a vehicle to get to work, your car may be eligible for an exemption. Discuss these options with your lawyer and the court-appointed bankruptcy trustee. They will be able to tell you exactly how much of your property you can avoid liquidating.

My Attorney Said I Need to ReAffirm my Car in Order to Keep it. What Does That Mean?

Washington State bankruptcy is not designed to help you pay off car loans or mortgages, it is designed to help you get back on your feet when things get out of hand. Generally, if you want to keep your car or some other property, you will need to reaffirm the related debt. You and your attorney will work with that specific creditor to work out a reaffirmation agreement that states your intent to continue with payments on that asset despite your Chapter 7 bankruptcy.

What Must I Do Before Filing Bankruptcy?

Your lawyer will be able to walk you through the process so that you will complete it correctly. As was mentioned before, make sure to follow your attorney’s advice and be forthcoming with all information needed. The basics steps are:

1. meet with a lawyer to discuss your situation and review your financial documents
2. Complete Credit Counseling briefing and get certificate to include with your Washington State Bankruptcy petition

After these steps have been completed, your attorney should have everything he or she needs to file your bankruptcy petition. The last step will be for you to attend a debtor education course either online, in person or via telephone.

My Lawyer Submitted my petition for Washington State bankruptcy. What do I do now?

Once the petition has been filed, the court will grant an automatic stay on all creditors’ collections or legal actions against you. A notice of your bankruptcy filing will be sent to your creditors. The bankruptcy trustee appointed to your case will review your petition and schedule a meeting with your creditors. You must be present at this meeting where any exemptions, repayments or other information might be discussed.

What are some of the Reasons why a Washington State Bankruptcy is not Approved?

Most bankrupty petitions are approved and move smoothly through the process. However there are some situations where your petition may be denied. The most important thing is to make sure your lawyer has all of the financial information he or she needs. If you try to hide or destroy any documents or information, you will be found in violation and, not only will you not receive your bankruptcy, you can be prosecuted for fraud. Other reasons for denial of Washington State bankruptcy may include missing filing deadlines, not attending the meeting with your creditors or failing to complete a debtor education course after you have filed your paperwork. As you can see, most of these things are entirely up to you to complete so, basically, your acceptance is in your own hands. A Chapter 13 bankruptcy is more likely to be denied simply because there is generally more paperwork involved.

My Attorney Says I will have to Sign a Statement of Intention, What Does that Mean?

A Statement of Intention is created by your attorney and filed after your bankruptcy petition, but before the creditor meeting. This statement, signed by you, will detail what you plan to do with each of the debts that are included in your Washington State bankruptcy. Once the statement has been filed, you will have 45 days to either begin making payments or give up your property, depending on what you stated in your intentions. Your lawyer can walk you through this and help you to decide what your intentions are regarding your individual debts.

What is the 341 Meeting

The 341 meeting, also known as the creditor meeting, is a gathering to which all your creditors are invited to discuss each of your debts. The truth is, most creditors do not show up at these meetings, especially if you are filing Chapter 7 bankruptcy. The meeting is usually held a month or so after your Washington State bankruptcy petition is filed and your attorney and the bankruptcy trustee will also be in attendance. If you fail to attend this meeting, your petition will be thrown out. No questions asked. While you may have to answer questions from a creditor or two, but, as I said, most choose not to attend at all.