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Financial Management Course Requirement

Notice to All Individuals After You File!  

Did you complete a financial management course and file your certificate of completion with the Court?

If not, your case could be closed without a discharge of your debts. You can only receive a discharge in a Chapter 7 or Chapter 13 case if you meet the statutory financial management certification requirement. See 11 U.S.C. § 727(a)(11) and 11 U.S.C. § 1328(g)(1). Additionally, Chapter 11 requires certification of completion if  11 U.S.C. § 1141(d)(3) applies.

Important facts about the financial management certification requirement:

  1. This course is in addition to the credit‐counseling debtors must receive prior to filing a bankruptcy petition.
  2. If a joint petition is filed, both spouses must complete a separate certification.
  3. The course must be a U.S. Trustee‐approved debtor financial education course. Information regarding debtor education providers can be found in the U.S. Trustee Program’s List of Approved Providers of Personal Financial Management Instructional Courses (Debtor Education) Pursuant to 11 U.S.C. §  111.
  4. Once complete, a Certification of Completion must be filed with the Court (not the U.S. Trustee). Note:  the person or company giving the financial management course may file this form with the Court for you. Check with the course provider to make sure you know whether you will have to file the form.

When to Complete It?

Please note that the Notice of Requirement to File Statement of Completion of Financial Management Course is mailed to you with the Notice of Meeting of Creditors. This is the only notice you will receive from the Court advising you of the date the Financial Management Certificate is due. The court will not contact you prior to the due date. If the Financial Management Certificate is not filed by the due date, your case could be closed without a discharge.

Pursuant to Federal Rule of Bankruptcy Procedure 1007(c), the time limits to file are as follows:

For Chapter 7 cases, the course should be completed within 45 days from the date of your 341 meeting of creditors hearing.

For Chapter 11 and 13 cases, the course should be completed prior to making your last payment (i.e., prior to the closing of your case).