• Vermont requires Chapter 7 candidates to attend a counseling session before and after filing bankruptcy.ragged purse image by Oleg Kulakov from Fotolia.com
  
  Vermont residents who cannot pay their credit cards, loans, medical bills or other obligations may be eligible to pursue forgiveness of such debts through Chapter 7 bankruptcy. However, the United States Bankruptcy Court District of Vermont website notes this should be considered a last resort option. When you pursue Chapter 7, you can lose assets such as a home or savings accounts, according to the book "How to File for Chapter 7 Bankruptcy." Also, the fact that you filed a Chapter 7 case will be noted on your credit report for 10 years. In Vermont, debts such as federally-issued student loans, child support, alimony and court fines cannot be included in a Chapter 7 bankruptcy case.
  
  

341 Meeting of Creditors

• All people filing Chapter 7 in Vermont must attend a 341 meeting of creditors. This is usually held 20 to 60 days after you file your bankruptcy petition, according to the United States Bankruptcy Court District of Vermont website. Creditors are not required to attend, but can attend to protest a Chapter 7 case or request additional information about the debtor's assets. According to the book "How to File for Chapter 7 Bankruptcy," a creditor actually objecting to a Chapter 7 bankruptcy case is rare and usually reserved for cases where someone may have hidden assets or committed fraud when applying for a credit account.
  
  

Tax Return Requirement

• In Vermont, you must submit a copy of your most recent federal tax return to the bankruptcy court at least 7 days before your 341 meeting. Creditors also have the right to request a copy of the tax return, according to the United States Bankruptcy Court District of Vermont website.
  
  

Pre-Bankruptcy Counseling

• You must complete a pre-bankruptcy financial counseling session in order to declare Chapter 7, according to the United States Bankruptcy Court District of Vermont website. This session, which must be completed with a federally-approved credit counseling firm, cannot have occurred more than 180 days before you file bankruptcy.
  
  

Counseling After Filing Bankruptcy

• ragged purse image by Oleg Kulakov from Fotolia.com
  
  Vermont also requires those who filed a Chapter 7 case to receive additional financial counseling after they submit their petition to the bankruptcy court. Your bankruptcy will not be finalized or "discharged" unless you complete another session with a federally-approved counselor within 45 days of your meeting of creditors, according to the United States Bankruptcy Court District of Vermont website. In some cases you may apply for an exemption from additional credit counseling.