Bankruptcy laws have changed, and figuring out how to use them effectively is harder than ever. The learning objective of this course is to review what you can expect from the new bankruptcy laws.
Lesson and Objectives |
Reading
Assignment |
1. What is bankruptcy? |
Chapter 1 |
The learning objectives for this lesson are to gain an understanding of:
- Types of bankruptcy
- How bankruptcy stops collection efforts
- The bankruptcy trustee
- Changes to the bankruptcy laws
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2. Who can file for bankruptcy |
Chapter 2 |
The learning objectives for this lesson are to gain an understanding of:
- Credit counseling
- How to calculate your income status
- Chapter 7 eligibility requirements
- Chapter 13 eligibility requirements
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3. How Bankruptcy affects your debts |
Chapter 3 |
The learning objectives for this lesson are to gain an understanding of:
- Debts that will be discharged in bankruptcy
- Debts that survive Chapter 7 bankruptcy
- Debts that survive Chapter 13 bankruptcy
- Debts discharged only under Chapter 13
- How joint debts are handled
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4. Your property and bankruptcy |
Chapter 4 |
The learning objectives for this lesson are to gain an understanding of:
- Your bankruptcy estate
- How to inventory your property
- How to value your property
- Exemptions
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5.Your home |
Chapter 5 |
The learning objectives for this lesson are to gain an understanding of:
- Homeowners filing for bankruptcy under Chapter 7
- Homeowners filing for bankruptcy under Chapter 13
- Renters filing for bankruptcy
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6. What happens to property that secures a loan |
Chapter 6 |
The learning objectives for this lesson are to gain an understanding of:
- What are secured debts
- How secured debts are handled in Chapter 7 bankruptcy
- Eliminating liens in Chapter 7 bankruptcy
- How secured debts are handled in Chapter 13 bankruptcy
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7. You credit cards |
Chapter 7 |
The learning objectives for this lesson are to gain an understanding of how bankruptcy can affect your credit cards:
- If your balance is zero
- If you owe money but are current
- If you are in default
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8. You job, freedom, and self-respect |
Chapter 8 |
The learning objectives for this lesson are to gain an understanding of the potential effects of filing for bankruptcy:
- Will you lose your self-respect?
- Will you lose you job?
- Effect of bankruptcy on job applicants
- Other forms of discrimination because of bankruptcy
- Effect of bankruptcy on child custody
- Effect of bankruptcy on your freedoms
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9. Bankruptcy forms and procedures |
Chapter 9 |
The learning objectives for this lesson are to gain an understanding of:
- The means test
- Challenges for abuse
- Valuation hearings
- Common Chapter 7 motions and proceedings
- Conversions from one chapter to another
- Potential problems in chapter 13
- Filling out the bankruptcy forms
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10. Getting help with your bankruptcy |
Chapter 10 |
The learning objectives for this lesson are to gain an understanding of:
- Debt relief agencies
- Bankruptcy lawyers
- Bankruptcy petition preparers
- Books and Internet resources
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1. Which of the following is NOT one of the changes to the bankruptcy laws?
a. Your property has to be valued at what it would cost to replace it from a retail vendor.
b. A filer's actual living expenses determine the filer's level of disposable income, as long as the expenses were reasonable necessary.
c. You must under go credit counseling before filing a Chapter 7 or Chapter 13 bankruptcy.
d. Lawyers must personally vouch for the accuracy of the information their clients provide them.
2. When taking the means test, charitable contributions and child care are NOT considered allowable IRS expenses.
