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File Bankruptcy in New Hampshire – Chapter 7 or Chapter 13 Bankrupcy

New Hampshire’s bankruptcy process to file either Chapter 7 or Chapter 13 is almost the same as any other state. It is important to use state laws when applying property exemption settlements. These laws determine the property you can keep, when filing Chapter 7, or how much you must repay creditors if you file chapter 13.

Mandatory New Hampshire Credit Counseling

Mandatory credit counseling is necessary in New Hampshire before you file either chapter. The counseling must be completed with an approved agency by the United States Trustee’s Office. A list of approved agencies for New Hampshire can be found at: http://www.justice.gov/ust/eo/bapcpa/ccde/CC_Files/CC_Approved_Agencies_HTML/cc_new_hampshire/cc_new_hampshire.htm

Importance of Hiring a New Hampshire Bankruptcy Lawyer

You may want to consult a New Hampshire bankruptcy attorney if you are seriously considering filing for bankruptcy. A list of attorneys is provide here: http://legalhelp.org/lawyers/category/bankruptcy/location/new-hampshire/

New Hampshire Exemptions for Bankruptcy

New Hampshire allows you to use either the New Hampshire’s state exemptions or the federal exemptions located at http://bankruptcy.legalhelp.org/federal-bankruptcy-exemptions/

An exemption of up to $1000, 000 for real property or manufactured housing is allowed by New Hampshire. Personal property such as beds, cooking utensils, clothing, stoves, burial plots, refrigerators, furniture up to $3,500 and any motor vehicle up to $4000.00 may also be taken. Certain wages, pensions, tools of the trade and some public benefits may also be exempt.

New Hampshire Means Test for Bankruptcy – Bankruptcy Eligibility

There is a Means test that use must use when you file. Your income is compared to the median income of a household of your size in New Hampshire. You will be eligible for Chapter 7 if your income is below the median and if you file Chapter 13 you can use a three-year payment plan.

At this time the median income for a New Hampshire household of one is $51,500 and these figures change every so often. To find the most current amounts you may go to:  http://www.justice.gov.ust  click on “Bankruptcy Reform”, then click “Means Test” or you may got to : http://www.justice.gov/ust/eo/bapcpa/20111101/bci_data/median_income_table.htm which is the Census Bureau table site.

Debtor Education Course New Hampshire

Once you have filed but before you receive your discharge you are obligated to take a debtor education course, which you must receive the course from an agency approved by the U.S. Trustee’s Office.  A list of approved agencies for New Hampshire will be provided to you by your bankruptcy attorney.

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