U of I Extension to Teach Course Mandated Under New Bankruptcy Law
Published: Feb. 2, 2006
URBANA - University of Illinois Extension consumer and family economics educators have signed on to teach the debtor education course required by all persons filing for bankruptcy since the Bankruptcy Abuse Prevention and Consumer Protection Act was passed in 2005.
"Extension educators have been teaching classes on budgeting, money management, and credit for years so teaching 'Personal Finances: Charting a New Course' to persons filing for bankruptcy is a very good fit for us," said Jennifer Hunt, consumer and family economics educator for the East Peoria Center.
"The class contains information on basic money management, wise use of credit, and building consumer skills. It's a one-time, three-hour course that contains a lot of good material--information that can help turn people's lives around," she said.
The new law requires that before a person files for bankruptcy they must be counseled at an approved agency, and the list of approved counselors can be found at the U.S. Trustees website, www.usdoj.gov/ust/eo/bapcpa/index.html. U of I Extension is not providing the counseling part of the process under the legislation, Hunt said.
After counseling, filers must complete a debtor education course before their bankruptcy can be discharged by the court, she added. University of Illinois Extension is an approved provider of the debtor education course.
There are three bankruptcy districts in Illinois, and the class is being offered in each of them "at different locations and times to meet everybody's needs," said Hunt.
To locate a class that works for you, go to www.ace.uiuc.edu/cfe/money/bankruptcy.html and print a "Personal Finance: Charting a New Course" brochure that contains class times and locations. The fee for the course is $50 per individual or $75 per couple.
"Scholarships are offered if you fall below the federal poverty guidelines. Simply send a copy of your previous year's Federal Tax Form 1040 with your registration information," Hunt said.
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