You must complete a two-hour personal financial management instruction course prior to receiving a discharge states Waukegan bankruptcy attorney David Siegel. My clients will watch a two-hour DVD shortly after their case is filed and provide proof of that watching at their 341 Meeting of Creditors. The way I like to run it is this: once the 341 meeting is over, my clients are typically done if they have already watched their video. If, on the other hand, they have not watched the two-hour video, then they must do so relatively quickly so that they don’t run the risk of their case closing without a discharge. If the case closes without a discharge, that means none of the debts were eliminated and creditors are free to go after them once again.
It’s pretty much a waste of time to pay your attorney, go through the entire bankruptcy process and realize that you have not eliminated your dad and you have not gotten protection from your creditors. Simply watch the two-hour financial management class or take a two-hour financial management class after your cases filed to ensure that you are not going to have a problem with your case closing without discharge.
Other than taking the two-hour class and appearing at your 341 Meeting of Creditors, you are done. On a rare occasion, the court might order a reaffirmation hearing where you have to come into court and prove to the court or satisfy the court that you can make your payments on vehicle debt or any other reaffirmed debt going forward. If there is no reaffirmation agreement hearing and you’ve appeared at your 341 meeting and you have taken the two-hour financial management class, then your case is effectively over and you are just waiting on your discharge which comes about 60 to 90 days after your Meeting of Creditors is completed.