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Do you have a question about Money Management International? Read from our list of bankruptcy counseling frequently asked questions.  You can also select from topic areas to find answers to specific questions.  If you don't find what you're looking for, use the SEARCH function in the top right corner of the navigational bar.


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Q: How much does the bankruptcy counseling session cost?

A:

The fee for the pre-filing bankruptcy counseling session by one of our professional credit counselors is $25 online and $45 by phone for single or joint filers. MMI will waive the bankruptcy pre-filing counseling fee for consumers whose household income is equal to or less than 150 percent of the estimated poverty threshold for their applicable family size as published in the current Federal Poverty Levels Guidelines.

   Online  Phone
 Pre-filing counseling  $25  $45
 Pre-discharge education  $25  $45
 Pre-discharge video  $25  

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Q: Does the bankruptcy counseling certificate expire?

A:
Bankruptcy regulations require consumers to receive counseling within six months of filing. If you choose to file more than six months past the date of your initial bankruptcy counseling session, you will need to schedule another appointment to talk with a trained bankruptcy counselor.

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Q: Do I need an attorney to file bankruptcy?

A:
Consumers filing for bankruptcy protection can file on their own; however, bankruptcy laws can be quite complicated. A trusted attorney may prove to be helpful. To find a bankruptcy attorney, consumers can ask someone they trust to recommend a good attorney or use the Attorney Locator resource at Bankruptcy.org to find a trusted attorney in your area. Take the time to make sure the attorney you choose is properly qualified and a good match. Filing bankruptcy can be an emotional event so it is important for filers to have a good relationship with their attorney.

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Q: Why do I have to take an education course after I filed?

A:

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 includes two provisions mandating financial counseling and education: Before filing for bankruptcy, consumers would be required to have a briefing on the alternatives to bankruptcy; and before receiving a bankruptcy discharge a debtor would be required to complete “an instructional course concerning personal financial management.” These provisions were included to provide debtors in bankruptcy with the skills and tools needed to avoid future financial problems.

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Q: How much does the bankruptcy education course cost?

A:

The fee for participating in a pre-discharge bankruptcy education course is $25 online or $45 by phone for single or joint filers. MMI will waive the bankruptcy pre-discharge course fee for debtors whose household income is equal to or less than 150 percent of the estimated poverty threshold for their applicable family size as published in the current Federal Poverty Levels Guidelines.

   Online  Phone
 Pre-filing counseling  $25  $45
 Pre-discharge education  $25  $45
 Pre-discharge video  $25  

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Q: How long is the bankruptcy education course?

A:

Each individual's financial situation is unique. Our goal is to ensure that everyone benefits from the program. This comprehensive course is a mandate from the EOUST and covers a variety of financial and budgeting topics. Please plan to dedicate a minimum of 120 minutes to complete the bankruptcy education course and note that a certificate will only be issued after this requirement has been met.

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