What Are The New Hampshire Bankruptcy Exemptions?
New Hampshire law protects all or a portion of your property from being seized by creditors or the bankruptcy trustee in a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, you are generally allowed to keep all of your assets and property. Certain exceptions may apply, so it’s wise to consult with a New Hampshire bankruptcy attorney to find which of your assets will be protected in a bankruptcy filed in New Hampshire. In general, the major New Hampshire bankruptcy exemptions include:
|GENERAL NEW HAMPSHIRE EXEMPTIONS|
|Real Estate (the Homestead Exemption)
Up to $100,000 of equity in your homestead can be protected.
Up to $4,000 of equity in one automobile can be protected.
Clothing; beds, bedsteads and bedding; household furniture to the value of $3,500; one stove, refrigerator, and utensils; one sewing machine; provisions and fuel in the value of $400; service uniforms; bibles, school books and library books to the value of $800; tools of trade to the value of $5,000; 1 hog, 1 pig, 6 sheep, 1 cow or horse; one church pew and burial plot; jewelry to the value of $500; and a “wild card” exemption of any property, not to exceed $1,000 in value, plus up to $7,000 of any unused amount of other exemptions.
|View the complete list of New Hampshire bankruptcy exemptions|
Please remember that this page provides general information only, and is not intended to provide legal advice. The information is not a substitute for the advice of a qualified bankruptcy attorney. If you need legal assistance, consult an attorney.
Which state’s exemption laws apply in your bankruptcy?
Generally, the laws of the state in which you lived for the 730 days (2 years) prior to filing a bankruptcy petition will apply in your bankruptcy.
If you have not lived in the same state for the 2 years immediately prior to filing your bankruptcy petition, the laws of the state in which you lived for the majority of the 180-day period preceding the 2-year period will likely apply.
If application of the preceding general rules renders you ineligible for exemptions under any state’s laws, you may be allowed to choose the federal exemptions applicable in your bankruptcy.
Is New Hampshire a Community Property State?
No, New Hampshire is not a community property state. Because it is not a community property state, you will be responsible for your spouse’s debts only if you voluntarily assumed those debts by, for example, co-signing on a loan given to your spouse. In a non-community property state, one spouse can file for bankruptcy and be eligible to eliminate all of their unsecured debts without the involvement of the other spouse.
How did your senator vote on the new bankruptcy laws?
Following years of intense lobbying by creditors, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). How did your Senators vote on these largely pro-creditor provisions?
Gregg (R-NH) — YEA
Sununu (R-NH) — YEA
New Hampshire Bankruptcy Court Locations:
1000 Elm Street
Manchester, NH 03101-1708
Note: You may not have to actually go to one of the above bankruptcy courts. Trustees often conduct your meeting at a local venue.
Although bankruptcy is federal law, the bankruptcy courts in each jurisdiction have local rules that must be followed. A local bankruptcy attorney will be familiar with the specific rules in your area.