New rules under the federal bankruptcy code require that debtors undergo a financial education course before their bankruptcy is finalized. Your Brooklyn bankruptcy lawyer can provide you with a list of approved agencies that conduct this service.

Before you enroll in the course, the agency will require you to provide proof of identification, as well as your bankruptcy case number (which your Brooklyn bankruptcy lawyer can give to you.) This assures the court that the real petitioner is indeed taking the class, and not sending someone else in his place.

The intent of a financial education course is to provide you with the skills you need to wisely manage your money in the future. It will cover topics such as short-term and long-term financial planning, personal budgeting, and disciplined use of credit, as well as consumer skills such as comparison shopping and determining wants vs. needs. Your Brooklyn bankruptcy lawyer can advise you further about additional topics that may be covered.

Requirements by the court dictate that the course must be at least two hours, and thanks to today’s technology, courses are even offered via the Internet by some agencies. Once you complete the course, you’ll be issued a Certificate of Completion, and you should give a copy of this to your Brooklyn bankruptcy lawyer to furnish to the court.

The bankruptcy court understands that your means are limited, and thus holds the agency providing the educational sessions to charging only a fair and reasonable fee for the class. More importantly, you are further protected in that the agency cannot withhold your Certificate of Completion if you are finding it difficult to finish paying for the course. If this is the case for you, your Brooklyn bankruptcy lawyer can advise you about resources available to help you to meet this final expense.

Hang in there – once you’ve reached this stage of the bankruptcy process, you’re in the home stretch. Just a few hours of class work will sweep you over the threshold into your new financial future – one filled with hope at the prospect of a fresh start in life.

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