I’m contemplating filing bankruptcy in North Dakota?
anyone out there who could share their experience about the process would be helpful. I own a home, two cars, have student loan, $45k in credit card debt. I know I can keep the house and cars if I keep paying on them; and student loans will not go away. I’d like to see how to process works from start to finish. Thanks.
The first post stated correctly. Adding to that…you have either chapter 7 (discharge) or chapter 13 (payment plan). Best advice, contact a local bankruptcy attorney and most will see you free the first consultation. They will want to see your pay stubs for the last 6 months, your assets, list of all your debts, & last 4 years of taxes. Once reviewed they will be able to tell you what you qualify for. With the new laws passed in Oct 2005, the amount of the median income amount was lowered, so they will review to see how much total income you have to see if you qualify for a chapter 7 discharge. The chapter 13 would be the payment plan taken out of a paycheck and sent to the trustees so they pay your secured debt first and un secured debts last. Seeing a qualified attorney will give you the best answer. You can review what is pertained in a filing at the bankruptcy website @ www.usbankruptcy.gov www.totalbankruptcy.com and www.bcsalliance.com gives great information on debt, credit and bk information. Good Luck!
