New Hampshire Bankruptcy Laws & Exemptions
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New Hampshire Bankruptcy Laws

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If you’re suffering under the burden of debt, you may want to consider how filing for personal bankruptcy could help you achieve a fresh financial start.

This page is designed to help you learn the basics of New Hampshire bankruptcy laws.

If you’ve already decided to seek the help and protection of bankruptcy, we can put you in touch with a local bankruptcy lawyer. Complete the free case review form on this page and we’ll connect you with a bankruptcy lawyer near you in New Hampshire.


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Understanding Chapter 13 and Chapter 7 Bankruptcy

Chapter 7 bankruptcy cases generally last only a few months, allowing you to quickly emerge protected and ready for a fresh start. Chapter 7 can give you a discharge of many or all of your unsecured debts such as your debt stemming from medical bills, credit cards or personal loans.

You may have heard about “liquidation sales” in conjuncture with Chapter 7 bankruptcy. And while it’s true that under Chapter 7 bankruptcy property can be sold to cover debts, New Hampshire bankruptcy law specifically outlines exemptions for your home, car and other items that may not be sold.

Both Chapter 7 and Chapter 13 bankruptcy can stop home foreclosure, repossession and lawsuits. Find a local bankruptcy lawyer to get protection today.

In fact, the majority of Chapter 7 bankruptcy cases in New Hampshire involve no property sale whatsoever. Protected property includes the following items.

Homestead

  • A residence worth up to $100,000.

Wages

  • Fifty times the federal minimum hourly wage per week.

Automobiles

  • One automobile worth up to $4,000 is exempt.

Other Property

The following miscellaneous items are exempted:

  • 100 percent of necessary clothing and bedding.
  • Up to $3,500 worth of household furniture.
  • One stove, one refrigerator, kitchen utensils, service uniforms, one sewing machine.
  • Up to $400 worth of provisions and fuel.
  • Up to $800 worth of Bibles, school books and library books.
  • Up to $5,000 worth of trade tools.
  • One hog, one pig, six sheep and one cow or horse.
  • One church pew and burial plot.
  • $500 worth of jewelry.
  • Up to $1,000 worth of other property.
  • Up to $7,000 worth of unused exemptions to be used on other items.

You may have heard that Chapter 13 bankruptcy may be used to halt foreclosure. When you file for Chapter 13 bankruptcy, the automatic stay should go into effect. This court order and special bankruptcy provision prevents collection action of any kind.

And since foreclosure is a type of collection, foreclosure, as well as repossession, may be halted for the duration of the bankruptcy.

Chapter 13 tends to work best for filers who have a regular, steady income but faced some unexpected financial hardship. Filers must be able to make regular payments according to their court-ordered plan during the three-five year repayment period.

Speak with a New Hampshire Bankruptcy Lawyer to Learn More

After getting a good handle on the New Hampshire bankruptcy laws, you may still have some questions about filing bankruptcy and how these laws specifically apply to you. A local New Hampshire bankruptcy lawyer can answer your questions and take you through process step-by-step.

To connect with a bankruptcy attorney near you in New Hampshire, complete the free case review form on this page or call us toll-free at 877-349-1309 and we’ll connect you directly.

Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.

Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.


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