109-8 , the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). BAPCPA also requires debtors, after they file for bankruptcy relief, to receive personal financial management training. Although the Act does not change BAPCPA's credit counseling provisions, section 1220 of the Pension Protection Act amends section 501 of the Internal Revenue Code, providing new standards that a credit counseling agency must meet to be eligible for a federal income tax exemption. Credit Counseling Requirements Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

Section 106 of BAPCPA adds credit counseling as a prerequisite to Chapter 7 or Chapter 13 bankruptcy filing or relief. Under the new section 109(h) of the Bankruptcy Code, a debtor may be exempt from the mandatory credit counseling requirement in certain circumstances. Disability under the 11 U.S.C. Approval Requirements for a Personal Financial Instructional Management Course

Section 111(d) lists the requirements for approval by the U.S. trustee for a personal financial management instructional course. Credit Counseling After Bankruptcy Petition Filed

BAPCPA amends section 109 of the Bankruptcy Code to require an individual to receive credit counseling prior to filing a petition for bankruptcy.
Section 106 of P.L. 109-8, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), creates credit counseling requirements for consumers seeking to file for bankruptcy under Chapter 7 (governing the liquidation of a debtor's assets) and Chapter 13 (governing the financial reorganization of a debtor's assets). BAPCPA amends the U.S. Bankruptcy Code, 11 U.S.C. §109, to require an individual to receive credit counseling before filing a petition for bankruptcy. In certain circumstances, these requirements may be waived. BAPCPA also requires debtors, after they file for bankruptcy relief, to take a personal financial management course. Both credit counseling agencies and personal financial management instructional course providers must obtain approval from a U.S. trustee before offering a course to satisfy these requirements. Section 106 of BAPCPA creates a new provision that specifies the approval requirements for both credit counseling agencies and personal financial management instructional courses. Finally, section 1220 of the Pension Protection Act of 2006 amends the Internal Revenue Code and establishes new standards that a credit counseling organization must meet to be exempt from federal income tax.