New Hampshire Bankruptcy Lawyers
Take control today! Make contact with a New Hampshire bankruptcy attorney.
If you can’t sleep because the bills keep piling up or because your home is facing foreclosure, talk to a bankruptcy attorney about your options and about the right solution for you.
You can connect with a New Hampshire bankruptcy attorney today for a no-obligation consultation and learn what options are available to you under U.S. bankruptcy laws.
Simply fill out the free case evaluation form below or call 877-833-2410 to connect with a local personal bankruptcy attorney and take the first steps on your journey to financial freedom.
New Hampshire Bankruptcy Laws
In New Hampshire, bankruptcy laws allow individuals to choose from two main types of personal bankruptcy: Chapter 7 and Chapter 13.
Not everyone is eligible to file Chapter 7. In order to qualify, you must pass the bankruptcy means test, which compares your household income to the median for a similar-sized household in New Hampshire. If your income is lower, you typically may file Chapter 7. If not, you may have other options and may still be eligible to file Chapter 13.
Filing Chapter 7 Bankruptcy
Filing Chapter 7 bankruptcy may help you break free from credit card bills, medical debt and personal loans.
Chapter 7 is typically used by people who have:
- Little or no source of regular income
- Unsecured debts, such as credit card debt
- Few valuable assets that could be sold to pay debts
The Chapter 7 process works through liquidation, in which certain assets may be used by the bankruptcy courts to repay creditors. However, New Hampshire laws allow bankruptcy filers to keep some of their most valuable assets exempt from the court.
Each state has its own exemptions. In New Hampshire, bankruptcy filers are allowed to exempt:
- Homestead: Residence worth up to $100,000
- Wages: 50 times the minimum wage per week
- Automobile: One automobile worth up to $4,000
- 100 percent of necessary clothing and bedding
- $3,500 worth of household furniture
- One stove, refrigerator, and sewing machine
- $400 worth of provisions and fuel
- $800 worth of books
- $5,000 worth of tools of trade
- $1,000 worth of other property
- An additional $7,000 to be used on any category
Because most Chapter 7 filers have little income and few assets of value at the time they file, many cases involve no liquidation at all, meaning individuals may get to keep all of their property and receive a discharge from their debts.
Filing Chapter 13 Bankruptcy
In a Chapter 13 bankruptcy, you are given the chance to create an affordable plan to repay priority debts through the bankruptcy court.
By filing Chapter 13 bankruptcy, you may be able to prevent home foreclosure or car repossession, and not have to part with any other valuable assets.
Chapter 13 bankruptcy is typically used by people who:
- Are facing foreclosure or are behind on mortgage payments
- Have a regular source of income but are still deep in debt
- Have luxury items that they would have to sell in a Chapter 7 bankruptcy
- Are not eligible to file Chapter 7 under the means test
Learn More About Your Options with a New Hampshire Bankruptcy Lawyer
Talk to a Hew Hampshire attorney and learn how to put bankruptcy laws to work for you.
Connecting with a lawyer near you is easy. Simply use our free bankruptcy case review form or call 877-833-2410 today to arrange your free, no-obligation consultation.
New Hampshire bankruptcy laws may have changed since our last update. For
the latest information on your state's bankruptcy laws, speak to a local
New Hampshire bankruptcy lawyer.