Bankruptcy Lawyer in Fargo, ND

Experienced, Award-Winning Attorneys to Help You File for Bankruptcy

You have several different options for financial recovery depending on your situation. The most common and comprehensive option is filing for bankruptcy. Whether you are an individual or a business in debt, The Dakota Bankruptcy Firm can help you evaluate your debt relief options and take the most efficient route out of debt. The firm is led by a team of award-winning bankruptcy lawyers who will do their best to help you navigate the bankruptcy process in North Dakota from beginning to end. Filing for bankruptcy can provide a range of debtor protections like foreclosure defense, protection from wage garnishment, and protection from creditor harassment.

Schedule a free initial consultation via online form or call (701) 394-3215 with The Dakota Bankruptcy Firm to learn more about your options.

Which Bankruptcy Option Is Right for Me?

The Dakota Bankruptcy Firm provides a range of bankruptcy services, including Chapter 7, Chapter 11, Chapter 13, and other specific debt relief procedures. Chapter 7 bankruptcy is an option for those who do not have the sufficient disposable income to repay their debts. As a result, Chapter 7 involves the liquidation of your assets in order to accumulate funds to pay off your creditors. On the contrary, while Chapter 7 requires you to sell your property to pay back your debts, Chapter 11 and Chapter 13 involve reorganizing your debts and assets to develop a repayment plan to pay back your creditors over a specified period of time. 

Need a bankruptcy lawyer in Fargo, ND? The Dakota Bankruptcy Firm can help you assess which bankruptcy option is best for you, as well as discuss other debt relief and student debt relief options that may help your situation. The firm’s goal is to help you regain financial freedom and maintain strong financial health moving forward, whether you are an individual or a business.

Contact The Dakota Bankruptcy Firm at (701) 394-3215 to schedule a free consultation with a bankruptcy attorney in Fargo to discuss your next steps.

How to File Bankruptcy in North Dakota

Because bankruptcy is within federal law, filing for bankruptcy in North Dakota is pretty much the same process as if you would do it in any other state. The difference lies in North Dakota’s bankruptcy exemptions laws. To file for bankruptcy in North Dakota, you must first choose the right bankruptcy chapter for your situation, then you can go from there!

North Dakota Bankruptcy Filing Guide

  • Determine whether you qualify for the type of bankruptcy you wish to file for
  • Gather your financial documents
  • Take an approved credit counseling course
  • File your bankruptcy paperwork (pay filing fee and turn in copies of your required financial documents)
  • Attend the 341 creditor’s meeting
  • If you are filing for Chapter 13 bankruptcy, attend the confirmation hearing and create your repayment plan
  • File your debtor’s education course certificate
  • Get your debts discharged

Above is a simplified version of what you will go through when filing for bankruptcy in North Dakota. If you are fighting against serious debt, we recommend that you speak with our Fargo bankruptcy lawyer at The Dakota Bankruptcy Firm during a free initial consultation. We can determine which bankruptcy chapter is right for your financial situation and let you know if you have other options that may work to your benefit. Filing for bankruptcy is a serious decision. Work with a seasoned bankruptcy attorney in Fargo so that you are more informed and confident about your options and have answers whenever you have questions. Get in contact with The Dakota Bankruptcy Firm by dialing (701) 394-3215 today.

What Happens If You File Bankruptcy in Fargo?

When you file for bankruptcy, several things happen. First, the court issues an automatic stay, which halts most collection efforts by creditors. This means no more harassing calls, wage garnishments, or legal actions.

The next few steps depend on the bankruptcy chapter you filed under. A trustee in Chapter 7 bankruptcy may sell some of your non-exempt property to pay off your debts. The majority of your obligations will be discharged, which means you are no longer required to pay them.

If you are filing for Chapter 13 bankruptcy, you will create a repayment plan to pay off your debts over a three- to five-year period. Your remaining qualified debts are discharged once the plan is finished.

What Are The Benefits of Bankruptcy?

Bankruptcy has a number of advantages. By implementing an automatic stay, stopping creditor actions, and giving people and businesses a much-needed financial breather, it provides immediate assistance.

Certain debts may be discharged as a result of bankruptcy. Many unsecured obligations, such as credit cards and medical bills, can be fully eliminated in Chapter 7, allowing a fresh start. In contrast, Chapter 13 creates sustainable repayment arrangements, frequently with lower sums.

Bankruptcy also offers the potential to safeguard essential assets like homes or cars through state-specific exemption laws. These laws determine what property cannot be used to pay creditors.

Ultimately, bankruptcy provides a crucial tool for regaining control over financial well-being, allowing for debt restructuring and the creation of a more sustainable financial future. However, it's important to be aware of potential downsides, such as credit score impact, your ability to obtain credit, court-approved repayment plans, and more. It is best to consult a seasoned bankruptcy attorney for guidance tailored to your specific situation.

Contact Our Fargo Bankruptcy Attorney Today

Call (701) 394-3215 to request a free consultation with our skilled Fargo bankruptcy lawyer.

Commonly Asked Questions

Can bankruptcy in North Dakota help protect my home or car?

Yes, bankruptcy in North Dakota can help protect essential assets like your home or car. State-specific exemption laws determine what property is protected from being used to pay creditors. These exemptions can allow you to keep your home, car, and other important assets while you go through the bankruptcy process, depending on the details of your case and the chapter under which you file.

Why should I choose a Fargo bankruptcy attorney for my case?

Choosing a Fargo bankruptcy attorney ensures that you have knowledgeable guidance tailored to your unique financial situation. A local attorney like The Dakota Bankruptcy Firm is familiar with North Dakota's specific laws and exemptions and can help you navigate the bankruptcy process confidently. We can determine the most appropriate chapter for you to file under and advise on other potential options, ensuring that you make informed decisions about your financial future.

We Offer Free Consultations

It begins with a consultation. Contact us to see if you qualify for bankruptcy.

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