Several individuals and businesses in North Dakota and Minnesota have filed for bankruptcy in U.S. Bankruptcy Court. In North Dakota, individuals such as Kristie Kaye Jones, Rachael Sophia TreeTop, Nichole Marie Heilman, and Danielle Cherie Struthers have filed for Chapter 7 bankruptcy. Other individuals like Khemmakron Doungpunan, Brandon Michael Janssen, Michael Wood, and Kenneth J. and Taysha M. Janisch have also filed for Chapter 7 bankruptcy.
In Minnesota, bankruptcy filings have been reported from various counties including Becker, Clay, Douglas, Grant, Hubbard, Mahnomen, Norman, Otter Tail, Polk, Traverse, Wadena, and Wilkin. Individuals like Peggy Lynn Nelson, Sterling M. Schmidt, Michael Alan Bangle, Kelsy A. Rasco, David Jon Tollefson, Tamika Shan’te Davis, Natosha Elizabeth Fagerholt, Penny Mae Bergeson, and Jodi Lynn Nelson have filed for bankruptcy under different chapters.
Chapter 7 is a petition to liquidate assets and discharge debts, while Chapter 11 is a petition for protection from creditors and to reorganize. Chapter 12 is specifically for family farmers to reorganize, and Chapter 13 is for wage earners to readjust debts.
This data was filed in U.S. Bankruptcy Court and highlights the financial challenges faced by individuals and businesses in the region. The filings indicate the need for financial restructuring and assistance during these difficult times.
Source
Photo credit www.inforum.com