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Question 1

Under BAPCPA 2005, what is the mandatory pre-bankruptcy credit counseling requirement for consumer debtors?

Accepted Answer

Debtors must complete credit counseling from a U.S. Trustee-approved agency within 180 days before filing

Answer

BAPCPA requires individual debtors to complete credit counseling from a U.S. Trustee-approved nonprofit agency within the 180-day period before filing the bankruptcy petition.

Question 2

When must the post-filing debtor education course in personal financial management be completed?

Accepted Answer

Before the debtor receives a discharge (prior to all plan payments in Chapter 13, or before the discharge order in Chapter 7)

Answer

Under 11 U.S.C. § 727(a)(11) and § 1328(g), completion of the financial management course is a prerequisite to receiving a discharge, not something done afterward.

Question 3

Which federal agency is responsible for approving credit counseling and debtor education providers under BAPCPA?

Accepted Answer

The U.S. Trustee Program (USTP) within the Department of Justice

Answer

The U.S. Trustee Program, a component of the DOJ, maintains the official lists of approved credit counseling agencies and debtor education providers for each judicial district.

Question 4

Under what circumstances may a debtor obtain a waiver of the pre-bankruptcy credit counseling requirement?

Accepted Answer

Exigent circumstances that prevented the debtor from obtaining counseling before an emergency filing was required

Answer

A bankruptcy court may grant a temporary waiver of the credit counseling requirement if the debtor demonstrates exigent circumstances that made timely completion impractical before an urgent filing.

Question 5

What must the mandatory pre-filing credit counseling session include?

Accepted Answer

An evaluation of the debtor's financial situation and a discussion of available alternatives to bankruptcy including debt management plans

Answer

Per BAPCPA, approved credit counseling must include a budget analysis, evaluation of the debtor's current financial situation, and discussion of alternatives to bankruptcy such as debt management plans.

(CBS) Certified Bankruptcy Specialist Practice Test

(CBS) Certified Bankruptcy Specialist Practice Test

CBS CBS Consumer Bankruptcy & Debtor Education