President Bush signed the BAPCPA legislation changing the law 6 months before it went into effect on October 17, 2005. As part of that new bankruptcy law, debtors are now required to take a pre-bankruptcy credit counseling class and obtain a certificate that proves they completed the course. However, it is not like a class you took in high school and it does not take a semester to complete.
Most clients report that the class takes between 30 minutes and 2 hours. It is just another small hoop you must jump through and $50 tax you must pay in order to file a bankruptcy. Typically, if you fill out our Debtors Forms prior to taking the class it is easier to navigate through the class.
Fortunately, the class can be taken 24 hours a day, and seven days a week with most of the qualified providers.