Written by the Upsolve Team.
Updated October 1, 2020
The motto of the North Dakota Tourism Division is “Be Legendary.” The history, stories, and residents of North Dakota often are indeed legendary. But it’s difficult for many North Dakotan families to focus on building remarkable life stories when they are struggling daily to make ends meet. If your family is having an unusually hard time paying the bills, know that there are numerous debt management options available to help you. One of the most immediately beneficial solutions worth considering is filing forChapter 7 bankruptcy. This legal resource allows families to erase their debts. As an added benefit, filing a North Dakota bankruptcy allows most families to keep all of their property throughexemptions. Because this form of bankruptcyeliminates most debts without requiring the filer to give up any property or make payments, only certainlower-income households qualify. The eligibility requirements for this process are outlined in the bankruptcy Means Test in North Dakota.
North Dakota Median Income Levels
North Dakota Median Income Standards for Means Test for Cases Filed On or After May 1, 2020
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Discharge in Bankruptcy for North Dakota
When debts are erased following a successful Chapter 7 bankruptcy filing, an applicant obtains a North Dakota bankruptcy discharge. After debts have been eliminated in this way, creditors can no longer request payment or harass you. You will have largely achieved a fresh financial start for yourself and your family. To avoid having your discharge request rejected, it’s important to make sure you are eligible by passing the Chapter 7 Means Test. Once you know you qualify for a Chapter 7 discharge, you’ll be able to file for bankruptcy yourself, as long as you take care tocomplete every step of the process.
North Dakota Means Test Calculator
To figure out whether you are eligible to file for Chapter 7 North Dakota bankruptcy, you’ll need to review the requirements for the bankruptcy Means Test in North Dakota. This test evaluates whether you can pay your debts over time by examining your income and your expenses and considering what is reasonable based on the size of your household. You can see whether you meet North Dakota’s Means Test requirements by accessing a state-specificMeans Test calculator online. It’s important to access a North Dakota Means Test calculator, rather than a generic one, as each state has its own income limits and allowable expenses for Chapter 7 bankruptcy eligibility. In addition, you should take care to make sure that the Means Test calculator you use is up-to-date. Many of these resources can be easily accessed online but not all are regularly updated even though the Means Test numbers change over time. Thankfully, you can use the state-specific Means Test calculators provided by the legal aid nonprofit organization Upsolve with confidence. These tools are always up-to-date and provide accurate results.
What Happens if I Fail the Means Test for North Dakota?
Residents of the Roughrider State are uniquely tough. Braving harsh winters year after year makes North Dakotans resilient. And resilient people don’t quit. If you have failed the requirements of the bankruptcy Means Test in North Dakota, know that there are other debt management options available to you. Throwing in the towel is not in your nature, so you should know you don’t have to give up hope for a fresh start right now. You may benefit from exploring otherNorth Dakota bankruptcy options with the aid of anexperienced attorney. For example, you may opt to file forChapter 13 bankruptcy to reorganize and restructure your debt. This option will bring your debts out of overdue status so that they stop incurring penalties and will lower your monthly debt-related payments to a single payment you can afford to make. Scheduling aconsultation with an attorney is a risk-free opportunity to learn more about your North Dakota bankruptcy options, and it doesn’t commit you to taking any action you aren’t prepared for.