North Dakota Bankruptcy Laws
North Dakota has one bankruptcy district court: North Dakota Bankruptcy Court with four locations in Bismark, Fargo, Grand Forks and Minot. It serves the entire state of North Dakota.
North Dakota Bankruptcy Exemptions
Exemptions pertain to property you can keep under chapter 7 bankruptcy. According to Lawyers.com, under North Dakota bankruptcy laws, generally you may keep:
- Homestead or mobile home to $80,000
- Exemption in lieu of homestead to $7,500
- All family pictures
- Pew in any house of worship
- Lot or lots in any burial ground
- Family Bible, school books and family library to $100
- All clothing
- Provisions and fuel for one year
- Crops and grain raised on up to 160 acres of land
- Insurance benefits from exempt property
- Motor vehicle to $1,200
- Cash value of life insurance
- Life insurance proceeds payable to decedent's estate or where beneficiary is relative of insured
- Qualified pension plan to $100,000 per account or $200,000 total
- Wrongful death awards if necessary for support to $7,500
- Personal injury payments to $7,500
- Social security except child support payments
- Veteran's disability pension except child support
- Musical instruments and books to $1,500
- Household and kitchen furniture to $1,000
- Livestock and farm implements to $4,500
- Tools of trade or professional library to $1,000
- Other personal property if single person to $2,500
- Other personal property if head of household to $5,000
- Any property to $500
- 75% of unpaid wages
- Public employee pension
- Crime victim's award
- Aid to dependent children
- Wrongful death awards
- Compensation of veterans of Desert Shield and Desert Storm
- Unemployment compensation
- Workers' compensation
NOTE: These are the major bankruptcy exemptions. Check with your bankruptcy lawyer for a full exemptions list.
New Bankruptcy Law Changes - Outlines major changes you should know about in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), also known as the new bankruptcy laws.
This is important! The new bankruptcy law requires all debtors to fulfill two education requirements: a credit counseling course prior to filing and a financial management course before obtaining a discharge. Failure to complete either of these courses and file the appropriate certificates with the court will prevent a successful bankruptcy. The Chapter 13 Trustee will offer the required courses to Chapter 13 debtors, but Chapter 7 debtors are required to take the courses on their own.
Find a U.S. Trustee Approved Pre-Bankruptcy Counseling Provider and Post-Filing Debtor Education Provider.
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