New Hampshire Bankruptcy Laws
New Hampshire Bankruptcy Exemptions
Exemptions pertain to property you are able to keep under chapter 7 bankruptcy. According to Lawyers.com, under New Hampshire bankruptcy laws, generally you may keep:
- Homestead or mobile home to $100,000
- Clothing for yourself and your family
- Beds and bedding for yourself and your family
- Household furniture to $3,500
- One cooking stove, one heating stove, one refrigerator and utensils
- One sewing machine
- Provisions and fuel to $400
- Military uniform, arms and equipment
- Bibles, school books and library to $800
- Tools of your occupation to $5,000
- One hog, one pig, six sheep and their fleece
- Domestic fowls to $300
- One cow, yoke of oxen or a horse if required for farming or teaming purposes and up to four tons of hay
- One pew in place of worship
- One burial lot
- One automobile to $4,000
- Jewelry to $500
- Any property to $1,000 plus up to $7,000 in any unused exemption amounts from furniture, fuel, books, tools of occupation, automobiles and jewelry
- Retirement plans
- 50 times the federal minimum wage per week and all wages after the service of trustee process
- Pension or bounty money
- New Hampshire Retirement System benefits
- Child support
- Public assistance to blind, aged, disabled and dependent children
- Workers' compensation
- Unemployment compensation
- Life insurance payable to a married woman
- Life insurance payable to a third person
- Jury and witness fees
- Insurance proceeds or damages recovered for exempt property to $5,000
NOTE: These are the major bankruptcy exemptions. Check with your bankruptcy lawyer for a full exemptions list.
New Bankruptcy Law Changes - Outlines major changes you should know about in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), also known as the new bankruptcy laws.
This is important! The new bankruptcy law requires all debtors to fulfill two education requirements: a credit counseling course prior to filing and a financial management course before obtaining a discharge. Failure to complete either of these courses and file the appropriate certificates with the court will prevent a successful bankruptcy. The Chapter 13 Trustee will offer the required courses to Chapter 13 debtors, but Chapter 7 debtors are required to take the courses on their own.
Find a U.S. Trustee Approved Pre-Bankruptcy Counseling Provider and Post-Filing Debtor Education Provider.
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