Bankruptcy Counseling and Education
We are here to help you with the complex and confusing bankruptcy process. We will provide the mandated counseling so you can make well-informed decisions together with your legal counsel. Our certified and experienced counselors will assist you with learning the options available to you, and with understanding the advantages and disadvantages of each option. This process will also include working together to create a realistic spending plan, or budget, that will help you make choices with confidence. The counseling programs are affordable and can be completed by internet, telephone or classroom. For individuals with unusual circumstances, we can accommodate special arrangements and times as needed. | COMMON QUESTIONS CLICK HERE for answers to frequently asked questions | BANKRUPTCY ATTORNEYS If you are an attorney and would like information about Alliance services | | Want to speak with a Counselor first? Or start a telephonic session?
Call: 866-686-9032 There is no appointment necessary, register online and start today.
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Tight Schedules? Filing Deadlines? Last-Minute Foreclosure Stay?
Alliance Credit Counseling, with 30+ certified counselors, can assist your practice and clients by providing expedited service for time-critical pre-petition credit counseling sessions. |
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A review of your circumstances during the budget briefing may determine eligibility for a reduced or waived fee. Alliance will reduce or waive the Pre-Petition Bankruptcy Counseling fees for debtors whose household income is less than 150% of the estimated poverty threshold for their applicable family size as published by the Bureau of the Census. |
Common Questions
Q: Which type of bankruptcy should I file? A: In general, there are two main types of consumer bankruptcy. The first is called “Chapter 7,” “liquidation,” or “straight bankruptcy.” Most of your assets are sold to pay your creditors. The assets you are allowed to keep will partly depend on the state where you live. The second type is called “Chapter 13,” “reorganization,” or “wage earner’s plan.” You can usually keep most of your assets in return for a court-approved repayment plan. The particular type of bankruptcy you file will depend on your circumstances. A competent attorney can help you make the decision.
Q: How long does bankruptcy take? A: The length of time to complete the bankruptcy process will depend on what type of bankruptcy you file and on your particular situation. A Chapter 7 bankruptcy can typically be completed in three to six months. A Chapter 13 bankruptcy requires repayment plan, which are typically three to five years.
Q: How much will the courses cost? A: | Pre-Petition Budget Briefing | | Online
$29.00 Individual
$39.00 Joint
| Telephone
$49.00 Individual
$59.00 Joint | | Post Filing - Debtor Education | | Online
$29.00 Individual
$39.00 Joint
| Home Study
$65.00 Individual
$85.00 Joint | However, you may qualify for a fee waiver or reduction. |
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Tight Schedules? Filing Deadlines? Last-Minute Foreclosure Stay?
Alliance Credit Counseling, with 30+ certified counselors, can assist your practice and clients by providing expedited service for time-critical pre-petition credit counseling sessions. |
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Read more...
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Chapter 13 is designed for individuals with regular income who desire to pay their debts but are currently unable to do so. The purpose of chapter 13 is to enable financially distressed individual debtors, under court supervision and protection, to propose and carry out a repayment plan under which creditors are paid over an extended period of time.
Under this chapter, debtors are permitted to repay creditors, in full or in part, in installments over a three year period, during which time creditors are prohibited from starting or continuing collection efforts. A plan providing for payments over more than three years must be “for cause” and be approved by the court. In no case may a plan provide for payments over a period longer than five years. 11 U.S.C. §1322(d). |
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The potential chapter 7 debtor should understand that a straight bankruptcy case does not involve the filing of a plan of repayment as in chapter 13, but rather envisions the bankruptcy trustee’s gathering and sale of the debtor’s nonexempt assets, from which holders of claims(creditors) will receive distributions in accordance with the provisions of the Bankruptcy Code. Part of the debtor’s property may be subject to liens and mortgages that pledge the property to other creditors. In addition, under chapter 7, the individual debtor is permitted to retain certain “exempt” property. The debtor’s remaining assets are liquidated by a trustee. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property. |
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A bankruptcy case commences when a bankruptcy petition is filed with the bankruptcy court. Fed. R. Bankr. P. 1002. A petition may be a voluntary petition, which is filed by the debtor, or it may be an involuntary petition, which is filed by creditors that meet certain requirements.11 U.S.C. §§ 301, 303. A voluntary petition should adhere to the format of Form 1 of the Official Forms prescribed by the Judicial Conference of the United States. The Official Forms may be purchased at legal stationery stores. The voluntary petition will include standard information concerning the debtor’s name(s), social security number ortax identification number, residence, location of principal assets (ifa business), the debtor’s plan or intention to file a plan, and a request for relief under the appropriate chapter of the Bankruptcy Code. In addition, the voluntary petition will indicate whether the debtor qualifies as a small business as defined in 11 U.S.C. § 101(51C)and whether the debtor elects to be considered a small business under11 U.S.C. § 1121(e). |
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