Bankruptcy Law in North Dakota

What it means in North Dakota:
Bankruptcy in North Dakota follows federal bankruptcy law, but filers must use North Dakota state exemptions to protect property, as North Dakota is an opt-out state.

Key points:

• Cases are filed in U.S. Bankruptcy Court – District of North Dakota
• Federal bankruptcy exemptions are not available
• Exemptions apply in both Chapter 7 and Chapter 13 cases

North Dakota-specific considerations:

• Homestead Exemption
  • Protects equity in a primary residence, including mobile homes
• Wildcard/Personal Property Exemptions
• Non-heads of household and heads of household may protect property and cash under state rules
• Certain equity in one vehicle is protected
• Generally protected under state law
• Motor Vehicle Exemption
• Retirement Accounts
• Careful exemption planning is important due to the category-specific structure

Whom it applies to:

• North Dakota residents filing bankruptcy
• Homeowners with secured debt

Individuals seeking debt relief