Richard Thomas and Faron E. Terry are attorneys who practice bankruptcy law in the State of North Dakota and has their law practice located in the City of Minot. Their education, location of practice and phone numbers are included and listed below.

       Minot (county seat of Ward County) is approximately 110 miles from the nearest U.S. Bankruptcy Court which is located in Bismarck (state capital). Communities that are nearby include Kenmare, Max, Granville, Berthold, and Velva.

Types of Bankruptcy (Business, Consumer and Municipal)

Chapter 7 - Can be filed by individuals, partnerships and corporations. The most common type of bankruptcy filing Chapter 9 - Adjustment of debts of a municipality Chapter 11 - Filed by large and small businesses. Individuals filing Chapter 11, are involved in business in some capacity, either as sole proprietors, or as principals of a corporation or partnership Chapter 12 - Adjustment of debts of a family farmer or fisherman Chapter 13 - Available for individuals only, no corporations or partnerships may file Chapter 15 - Bankruptcy, reorganization and insolvency cases that have assets, debtors, creditors, and other interested parties in multiple countries

Faron E. Terry Minot, ND   Richard Thomas     "        "

Attorney Name - Education, Address and Practice

Name: Faron E. Terry Education: Undergraduate School: Unknown Law School: University of North Dakota School of Law - Grand Forks, North Dakota Address: Faron Eugene Terry Attorney at Law 216 S. Broadway, Suite 3 Minot, ND 58702 Telephone: (701) 838-6945 Fax: (701) 838-6947 Practice: Ward County North Dakota State Bar - Admitted 1991 Name: Richard Thomas Education: Undergraduate School: Unknown Law School: University of North Dakota School of Law - Grand Forks, North Dakota Address: Richard B. Thomas Attorney at Law 114 S. Main St. Minot, ND 58702 Telephone: (701) 852-1602 Fax: (701) 852-1661 Practice: Ward County North Dakota State Bar - Admitted 1957

Strategies for the Debtor

Automatic Stay, - Automatically stops most creditor action against the debtor "Lien-stripping" - Generally available in Chapters 11 and 13, "Use of "Avoiding Powers" - May let the debtor sue creditors and "undo" certain harmful transactions "Race to the Courthouse" - A bankruptcy filing allows assets to be sold by the debtor or trustee, over a reasonable period of time

Written by Jack Garchar