.:Bankruptcy Credit Counseling:.

The 2005 Bankruptcy Law requires consumers filing bankruptcy to complete two credit counseling sessions. One must be completed before you file bankruptcy and the other after you file. The sessions must be completed within a certain time-frame through a credit counseling agency approved by the Office of the U. S. Trustee.  The counseling may be done in person, by telephone or over the internet.

I. Pre-Filing Bankruptcy Counseling.

Within 180 days prior to filing a case, you must complete the first counseling session.   Once completed you will receive a certificate which you need in order to file bankruptcy.  During the session you will be asked about your income and expenses.  Your household budget will be analyzed followed by a discussion of the options for resolving your debt problems, which include self-help, a debt management program, debt settlement and bankruptcy.

You should be familiar with all of your expenses because if you under report expenses you may be told to file a Chapter 13 bankruptcy which would require you to make payments from 36 to 60 months.  The counseling session lasts 60-90 minutes.  The usual charge is $50.00.

The Institute for Financial Literacy  is an approved credit counseling agency located in the State of Maine. Its services include the Fresh Start Online pre-filing credit counseling. Once we have been retained we will issue you a username and password to allow you to login to its website and complete the online counseling session. Click below to go to the Institute for Financial Literacy website and learn more about its pre-filing Fresh Start Online credit counseling.

II. Post-Filing Debtor Education.

After you file bankruptcy and have attended your court hearing (called "Meeting of Creditors"), you will be required to complete a personal financial management education course.  The purpose of this course is to teach you how to better manage your finances after your bankruptcy. Your debts will not be discharged unless you complete this course and file a certificate with the court.  The course will need to be completed after your case is filed filing, but prior to discharge of your case. In a Chapter 7 case Vermont local bankruptcy rule requires the certificate to be filed within 45 days after the originally scheduled meeting of creditors. The debtor education course lasts about two hours and usually costs $50.00.

The Consumer Credit Counseling Service of Vermont and New Hampshire  is an approved credit counseling agency with offices in Vermont and New Hampshire. Its Vermont offices are located in Barre, Burlington, Brattleboro and Rutland. We will schedule your counseling session and provide you with written material to review prior to your session. Click below to go to the Consumer Credit Counseling Service of Vermont and New Hampshire website and learn more about its post-filing debtor educatiion.

On Your Own - Of course you may arrange and complete the two bankruptcy credit counseling sessions on your own through any of the approved agencies. Click here  to see a complete list of all agencies approved to provide bankruptcy credit counseling in Vermont. If you choose to arrange the counseling on your own, you will need to have the provider send us a copy of your completion certificates.