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| Credit Card Debt Consolidation Help in North Dakota | ||||||||||||||||
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| North Dakota Debt Relief | ||||||||||||||||
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Debt settlement, also known as debt negotiation and debt reduction, is the process by which we negotiate and settle a debt for a reduced amount on behalf of a client. When successful, it is possible that Franklin Debt Relief can settle their debts for less than what is owed, all with the convenience of one low program payment. The savings from our debt settlement program can potentially be tremendous versus making your minimum payments, and it is in some cases the cheapest and fastest debt relief, debt consolidation or debt help option available to North Dakota consumers. If you're overwhelmed with credit cards, medical bills, balances from a repossession, or accounts in collections, call for a free consultation: (877) 274-1260. |
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| Pertinent North Dakota Debt Relief and Debt Help Laws | ||||||||||||||||
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(This is intended to be a helpful and informational debt resource for North Dakota consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in North Dakota.) Debt Collection North Dakota follows the set of federal laws dealing with collection agencies (and law firms that collect debts) that are collectively known as the Fair Debt Collection Practices Act (FDCPA). For more information on the FDCPA follow this link: debt collection. Maximum Interest Rate a Collection Agency Can Charge in North Dakota: 6% North Dakota Wage Protection: 75% of disposable weekly earnings (after tax income) or 40 times federal hourly minimum wage Statute of Limitations A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in California but currently live in North Dakota, the applicable statutes of limitations would be California's.) Oral Agreements: 6 years Written Contracts: 6 years Promissory Notes: 6 years Open Accounts (credit cards): 6 years Bankruptcy Courts Quentin N. Burdick United States Courthouse 655 1st Avenue N Fargo, ND 58102-4932 Bankruptcy Exemptions Bankruptcy exemptions are protected assets that the bankruptcy code mandates that a debtor is entitled to keep in order to adequately get a "fresh start" after filing. Bankruptcy exemptions vary from state to state, and the following list is the property that is protected in the bankruptcy code of North Dakota. For more information, follow this link: bankruptcy exemptions. Real Estate, Auto, Personal Property -Real property, house trailer, mobile home to $80,000 -$7500 of any property, in lieu of homestead - $5000 for head of household not claiming crops or grain exemption -$2500 for head of household not claiming crops or grain exemption -Motor vehicle to $1200 -Bible, schoolbooks -Other books to $100 -Burial plots, church pew -Clothing, family pictures -Crops or grain raised by debtor on 160 acres where debtor resides -Food and fuel to last 1 year -Insurance proceeds for exempt property -Personal injury recoveries to $7500 -Wrongful death recoveries to $7500 -Books and musical instruments to $1500; household and kitchen furniture, beds, and bedding to $1000; library and tools of professional, tools of mechanic, and stock in trade to $1000 (only if head of household not claiming crops or grain and not claiming $5000 of any personal property) Insurance -Fraternal benefits society benefits -Life insurance proceeds payable to deceased's estate, not a specific beneficiary -Life insurance surrender value to $100,000 per policy, if beneficiary is insured's dependent & policy was owned over 1 year before filing bankruptcy; unlimited if needed for support Public Benefits -Crime victims' compensation -Old age and survivor insurance program benefits -Public assistance -Social Security -Unemployment compensation -Workers' compensation Pensions -ERISA-qualified benefits -IRAs, Roth IRAs, and Keoghs to $100,000 per plan; unlimited if necessary for support; total exemption not to exceed $200,000 with life insurance surrender value -Disabled veterans' benefits, except military retirement pay Other -Child support |
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