New Hampshire Bankruptcy Lawyer
I need a bankruptcy lawyer! If you have come to that conclusion then you have found the right site. Are you hoping your financial situation will get better on it's own? Are you wishing the creditors would just stop calling and leave you alone? Get the help you need by filling out the free confidential legal evaluation and a well respected New Hampshire Attorney near you will contact you to discuss your possible case.
If you are considering filing bankruptcy in New Hampshire, you do not have to do it a lone. New Hampshire Bankruptcy Attorneys are available to review your financial information and determine if bankruptcy is right for you. A New Hampshire Bankruptcy Lawyer is familiar with New Hampshire bankruptcy law and will be able to answer all of your questions.
Let us stop those harassing phone calls from aggressive creditors. We can get you the financial fresh start you deserve. Act now, it's never too early to talk to a lawyer.
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Filing Chapter 13 Bankruptcy in New Hampshire
If you do not qualify to file Chapter 7, you may be able to file Chapter 13 Bankruptcy. New Hampshire Chapter 13 Bankruptcy will not immediately discharge your debt, but it will allow you to keep many of your assets, stop home foreclosures, repossessions and wage garnishments.
Chapter 13 Bankruptcy will allow you to work with your New Hampshire Bankruptcy Attorney and court appointed trustee to develop a three to five year repayment plan to repay your creditors. Many times the repayment plan may have more favorable debt repayment options. The repayment plan will be managed by the trustee and monitored by the court. A plus to filing bankruptcy in New Hampshire, is creditors are not allowed to continue debt collection efforts outside of the debt repayment plan. There may be exceptions for debt collection efforts for non-dischargeable debt.
Filing Chapter 13 in New Hampshire can be a complicated bankruptcy process. A New Hampshire Bankruptcy Attorney can work with you to answer your questions, file your petition and schedules, complete your debt repayment plan and appear in court for your. A New Hampshire Bankruptcy Attorney will also have information about what assets will be exempt from the bankruptcy process.
Federal bankruptcy laws have outlined certain debts that are considered exempt. Exempt assets are assets that will be retained through the bankruptcy process, allowing you to start over. Although exemptions have been outlined in federal bankruptcy laws, many states have developed their own list of exempt assets. You may have the choice, depending on where you live, to choose either the state of federal bankruptcy list. Certain states however, allow only the state exemption list to be used.
In the state of New Hampshire, you can not use the federal exemption list when filing bankruptcy, only New Hampshire State Exemptions can be used.
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File Chapter 7 Bankruptcy in New Hampshire
Individuals, corporations, partnerships, and married couples may all qualify to file Chapter 7 Bankruptcy. Chapter 7 Bankruptcy in New Hampshire is the most common bankruptcy and can be used to discharge your most unsecured debt with in four to six months. When filing Chapter 7 Bankruptcy, there is a liquidation of your assets by an appointed trustee, who will use the proceeds from the sale of your assets to pay your creditors. Creditors will be paid based on a priority rating determined by federal bankruptcy law.
In 2005, the Bankruptcy Prevention and Consumer Protection Act (BAPCA), made it more difficult to file Chapter 7 Bankruptcy in New Hampshire. The BAPCA requires an income test, additional credit counseling prior to filing bankruptcy, and completion of financial management course prior to the dismissal of your debt. The goal of the BAPCA was to encourage more individuals to file Chapter 13 Bankruptcy and repay a portion or all of their debt. To determine if you qualify for filing Chapter 7 Bankruptcy, you will have to pass an income test.
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New Hampshire Means Test
The income test analyzes your median income and compares it to other New Hampshire families of similar size. If your median income is below other families in New Hampshire, you will probably be able to file Chapter 7 Bankruptcy. If your income is above other residents in New Hampshire, additional "means testing" will need to be done.
The goal of the means test is to determine if you have enough disposable income to pay your creditors. The means test will take your income (over the last 6 months) and subtract expenses such as you house payment, taxes owed, child support, tuition (up to $1650) and car payments. If you have enough disposable income to pay $6,000 (100/month) toward your unsecure debt over the next sixty months, you will most likely have to file Chapter 13 Bankruptcy. If you fail this test but you have enough disposable income to pay 25% of your income in unsecured debt payments in the next sixty months, you will probably have to file Chapter 13 Bankruptcy.
The United States Trustee Program publishes a list of the state median incomes. The New Hampshire State Median list will outline the median income information for the state of New Hampshire. As of March 15, 2009, the median income for a single wage earner in the state of New Hampshire was $55,766 and for a family of two it was $65,751. For a family of three it was $$77,008 and for a family of four it was $93,186.
A New Hampshire Bankruptcy Attorney should be contacted to help you complete the means test and determine if you qualify to file Chapter 7 Bankruptcy. This is information is general and should not be considered legal advice. Use our Free Case Evaluation to find out if filing bankruptcy with an experienced New Hampshire lawyer is right for you.
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New Hampshire Bankruptcy Attorneys
Following is a list of bankruptcy attorneys who practice law in New Hampshire. To contact one of these attorneys, please complete our free case evaluation form or call 800-859-0844
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Keene Arthur L. Trombly, Attorney at Law 103 Roxbury Street, Suite 204 Keene, NH 03431 |
Map & Directions Call Now: 800-859-0844 Contact for your Free Evaluation |
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Related Pages
Means Test: as defined in our Bankruptcy Glossary
Questions About New Hampshire Bankruptcy?
If you live in New Hampshire and you're considering bankruptcy, please complete the form below. A local New Hampshire Bankruptcy lawyer will contact you and answer your questions for free. Don't wait -- Get Help Today!
