Understanding the intricacies of the 423 form within the United States Bankruptcy Court proceedings involves a comprehensive dive into its essential role for individuals navigating the complexities of bankruptcy. It serves as a pivotal certification about a mandatory financial management course, a step that cannot be overlooked for those who have filed under chapter 7, 11, or 13 of the Bankruptcy Code. The requirement underscored in this form captures the essence of ensuring that individuals are equipped with the necessary knowledge to manage their finances better post-bankruptcy. The process, as delineated, entails the submission of this form alongside the certificate number provided upon the course's completion, which stands as a testament to the debtor’s commitment to fiscal responsibility. However, the 423 form also outlines specific circumstances under which a debtor may be exempt from this prerequisite, including various conditions such as incapacity due to mental illness, physical disabilities, active military duty in a combat zone, or residing in a district with inadequate course provisions. Each debtor, or their spouse if filing jointly, is required to file this form if the course provider does not notify the court of their completion. The form must be filed within specified timeframes depending on the chapter under which bankruptcy was filed, thus emphasizing its critical timing in the broader context of seeking debt discharge. Additionally, the form provides for a procedure through which the requirement can be waived, detailing the need for a motion and a court order. This complex array of requirements and exceptions encapsulates the form's significance in the path towards financial recovery and underscores the careful attention individuals must pay to each detail to navigate their bankruptcy proceedings successfully.
| Question | Answer |
|---|---|
| Form Name | Form 423 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | financial management course form 423, cursor, financial management form 423, how do i file form 423 |
FORM 423 (12/15)
Fill in this information to identify the case:
Debtor 1 |
______________________________________________________ |
||
|
First Name |
Middle Name |
Last Name |
Debtor 2 |
______________________________________________________ |
||
(Spouse, if filing) |
First Name |
Middle Name |
Last Name |
United States Bankruptcy Court for the: ________________________District of _____________
(State)
Case number: ______________________________
(if known)
Certification About a Financial Management Course
If you are an individual, you must take an approved course about personal financial management if:
•you filed for bankruptcy under chapter 7 or 13, or
•you filed for bankruptcy under chapter 11 and §1141 (d)(3) does apply.
In a joint case, each debtor must take the course. 11 U.S.C §§ 727(a)(11) and 1328(g).
After you finish the course, the provider will give you a certificate. The provider may notify the court that you have completed the course. If the provider does notify the court, you need not file this form. If the provider does not notify the court, then each debtor must file this form with the certificate number before your debts will be discharged.
•If you filed under chapter 7 and you need to file this form, file it within 60 days after the first date set for the meeting of creditors under §341 of the Bankruptcy Code.
•If you filed under chapter 11 or 13 and you need to file this form, file it before you make the last payment that your plan requires or before you file a motion for a discharge under §1141(d)(5)(B) or §1328(b) of the Bankruptcy Code. Fed. R. Bankr. P. 1007(c).
In some cases, the court can waive the requirement to take the financial management course. To have the requirement waived, you must file a motion with the court and obtain a court order.
− − − NOTICE CONTINUES ON NEXT PAGE − − −
Part 1: Tell the Court About the Required Course
YOU MUST CHECK ONE:
I completed an approved course in personal financial management:
Date I took the course _________________
MM /DD /YYYY
Name of approved
provider_____________________________________________
Certificate number
_____________________________________________
I am not required to complete a course in personal financial management because the court has granted my motion for a waiver of the requirement based on (CHECK ONE):
Incapacity. I have a mental illness or a mental deficiency that makes me incapable of realizing or making rational decisions about finances.
Disability. My physical disability causes me to be unable to complete a course in personal financial management in person, by phone, or through the internet, even after I reasonably tried to do so.
Active I am currently on active military duty in a military combat zone.
Duty.
Residence. I live in a district in which the United States trustee (or bankruptcy administrator) has determined that the approved instructional courses cannot adequately meet my needs.
Part 2: Sign Here
I certify that the information I have provided is true and correct.
____________________________________ |
___________________________________ |
Date ___________________ |
Signature of debtor named on certificate |
Printed name of debtor |
MM /DD/ YYYY |