Non-dischargeable Debts
Waukegan Illinois Bankruptcy Lawyers & Attorneys
David Siegel: Okay. Let’s talk about what happens when you actually file the case. What happens next?
Jesse Barrientes: Well, you come in and you – there are a lot of things. Let’s talk about though before we file the case because I think it’s important for them to know. There is a requirement when they passed the Bankruptcy Reform Act – I don’t know, how long has it been now, Dave?
David Siegel: October 17, 2005.
Jesse Barrientes: Wow! You remember that date pretty well.
David Siegel: Absolutely.
Jesse Barrientes: So, it’s been a couple of years, a few years. It just doesn’t seem how that time gets behind you. But you’re required now to take a debt management class and then a credit counseling class. Or credit counseling and then debt management. And it provides, well it’s a precursor. You have to take that before you can actually even file the case.
David Siegel: Okay, let’s talk about this. What is the credit counseling requirement that you have to take? What does it entail? What does it cost? How long does it take? And when do you have to take it?
Jesse Barrientes: You can take it on the computer, over the internet, and it will cost I believe $35. And they just want to get information from you, all of your financial information and everything else. In fact, I believe that my office, your office too probably, sends out information that they need to have together before they take that class, and I don’t know, Dave, would you say probably about an hour or so, maybe two depending upon how efficient you can type all of that stuff in?
David Siegel: The average credit counseling session is about an hour if you do it online. Maybe a little bit quicker if you do it over the telephone or in person.
Jesse Barrientes: So once you get all that information done, they will give you a certificate. I know some Waukegan bankruptcy attorneys send attorney code that’s unique to that firm and what happens is that place, the credit counseling, will automatically email it or send it to that firm.
David Siegel: That’s correct. That makes it very easy for the attorney to figure out that you’ve actually taken it and give you proper credit for it.
Jesse Barrientes: Exactly. And then after – so that’s before you can even file a petition, and then after that and before you get your discharge, you’re required to take a debt management course. And that involves, that costs you about $50 too. And Dave, I believe that you’re one of the only people or attorneys that I’m aware of that is an accredited provider of that debt management course.
David Siegel: Yes, I do provide that course. I do teach the two hour financial management class. I’m an accredited financial counselor which allows me the accreditation to be able to that. And the class is a full two hours, talking everything from finance to budgeting to purchasing a car, purchasing a home. So that people make smart decisions after they file a bankruptcy so that they don’t fall into debt again. That is the idea. To educate people so they don’t have a problem in the future.
Jesse Barrientes: Right. Because again, if people just kind of complain and whine and cry, nothing’s going to happen, right?
David Siegel: That’s right.
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