Top Bankruptcy Lawyers in Fargo, ND

Fargo, ND Bankruptcy FAQs

• Where do I file for bankruptcy in Fargo, North Dakota?

  Bankruptcy cases in Fargo are filed with the United States Bankruptcy Court for the District of North Dakota. The court's address is 655 1st Ave N, Ste 210, Fargo, ND 58102.

• Where can I get bankruptcy forms in Fargo, North Dakota?

  To acquire a bankruptcy form in Fargo, simply visit the United States Courts' website at https://www.uscourts.gov/forms/bankruptcy-forms.

• Why should you consider filing for bankruptcy in Fargo?

  Bankruptcy may be an appropriate solution if you're facing difficulties in keeping up with payments for unsecured debts like credit cards, medical bills, or debts from a failed business in Fargo. It can eliminate a sizable percentage of your debts, giving you the chance to repair whatever damage your credit history may have sustained. You are protected from creditors suing you to recoup debts you owe them when you acquire a discharge order through Chapter 7 or Chapter 13 bankruptcy.

• Are there restrictions on who can file for bankruptcy in Fargo?

  Bankruptcy in Fargo is open to all individuals, but each Chapter has specific eligibility criteria:

  • Chapter 13: Eligibility requires not being a business, staying within debt limits, and demonstrating a reliable income to meet repayment obligations.
  • Chapter 7: Household income must be below North Dakota's median for your family size (the "means test"). Even if your income exceeds the state median but doesn't provide enough disposable income for a Chapter 13 plan, you may still qualify.
  • Chapter 11: Available to most individuals and businesses not pursuing the above options.

• What impact does filing for bankruptcy in Fargo have on your credit?

  It depends. There is no clear-cut rule regarding how credit scores are impacted by filing for bankruptcy. If your credit report in Fargo shows charged-off accounts, late payments, judgments, or foreclosures, filing for bankruptcy can expedite credit score improvement. Doing so would be preferable in some cases as it would be better than leaving these accounts inactive or dealing with creditor actions like collection lawsuits, levies, and garnishments. After completing the bankruptcy process, your credit report will reflect minimal or no debt, as bankruptcy eliminates the balances on these accounts.

• Do you need to undergo credit counseling before filing for bankruptcy in Fargo?

  Yes, before filing for bankruptcy in Fargo, it is necessary to participate in credit counseling with a licensed counselor to prevent the possibility of case dismissal. After completing the counseling, you will receive a certificate of completion that must be presented to the bankruptcy court. Additionally, in certain situations, the credit counselor might provide a recommended budget and repayment plan that should be submitted together with the certificate.

• Which types of debts in Fargo are encompassed by Chapter 7 bankruptcy?

  Chapter 7 bankruptcy in Fargo encompasses various types of debts, such as credit card debt (including late payments and fees); personal loans obtained from friends, family, and employers; medical bills; accounts in collections; overdue home utility balances; business-related debts; automobile accident claims; past-due rent as specified in lease agreements between landlords and tenants; most civil court lawsuit judgments; unpaid tax penalties; overpayments from government programs; and balances resulting from repossessions.