Can You Protect Your Assets After Filing for Bankruptcy in New Hampshire?

Some of your property may be protected through exemption when you file for bankruptcy in the state of New Hampshire.  At Buckley Law Offices, we want to help answer questions you may have about maximizing your assets after filing for bankruptcy.  New Hampshire allows you to use either state exemptions or federal exemptions.  If filing with a spouse, you may claim the full amount in most cases. 

New Hampshire Exemptions

A few examples of recent state exemptions for New Hampshire are listed below.  Please note that these exemptions are subject to change every few years, so be sure to check with your bankruptcy attorney before filing! We offer free initial consultations to all bankruptcy clients so we can answer the questions you have that are specific to your situation. Call us today to take advantage of this opportunity to speak to a New Hampshire bankruptcy attorney for free.

• Homestead: $110,000 of equity in a principal home for each residential owner.
• Motor Vehicle: Motor Vehicle Equity (up to $10,000).
• Personal Property:
  • Personal Items (such as clothing, beds, cooking utensils)
  • Appliances (such as refrigerator and stove)
  • Up to $3500 of furniture
  • Up to $800 of books
  • Up to $500 of jewelry
  • Property up to $1,000
  • Burial Plot
  • Animals: 1 hog, 1 pig, 6 sheep, 1 cow, domestic fowls (up to $300)
  • Church Pew
  • Up to $400 of provisions and fuel
• Tools of Trade: up to $5,000
• Wages
  • Earned but unpaid wages
  • Wages of a minor child
  • Payroll account deposits
  • Jury and witness fees
• Pensions:
  • Tax-exempt retirement accounts
  • IRAs and Roth IRAs up to $1,171,150
  • Pensions for public employees, firefighters, and police officers
  • Federal Pensions
  • ERISA
• Insurance: firefighters’ aid, homeowners’ insurance, fraternal benefit society
• Wildcard: up to $7,000 for tools of the trade, jewelry, furniture, books, or a motor vehicle and $1,000 of property

In addition to all of the above, if you are a member of a business partnership, all property associated with your business may be retained.

For a full list of state and federal bankruptcy exemptions please refer to NH Rev Stat § 511:2 and 11 USC § 522.  You can only choose from one list.  You can’t mix.  One exemption list may allow you to keep more property than the other, which is why it is so important to work with an experienced New Hampshire bankruptcy attorney who will take the time to learn the specifics of your case.

Read More About Our Law Firm’s New Hampshire Bankruptcy Services by Following the Links Below.

What Can I Do About Repossessions in New Hampshire?

If repossession is on your horizon, our law firm can help.

How Do I Stop a New Hampshire Car Repossession or Other Types of Repossession?

Has your bank or Lender notified you that have plans to repossess your car, boat, or another vehicle because you have been unable to make payments as and when due? There are effective options available to you to prevent repossession, and you need help from a knowledgeable attorney to get the situation under control.

Our team at Buckley Law Offices P.C. has nearly 30 years of experience in the area of debt, relief, bankruptcy, and the various alternative to bankruptcy, as well as in halting repossession actions. No matter the situation, it is very likely that we can implement a solution that will help you to avoid repossession of your car, truck, vehicle, or any other possession. You’re purchasing overtime in the state of New Hampshire.

When Should You Speak With a New Hampshire Bankruptcy Attorney?

In many cases, lenders will be more willing to negotiate with an attorney, rather than with a borrower. You may have called your lender and tried to explain your situation with no positive results. If you try to work with a lender and failed, get in touch with our New Hampshire bankruptcy firm. We work every day for our clients, call after call, to negotiate the best possible situation and restore peace to their lives regardless of their financial situation.

Lenders sit up and listen when our firm gets involved. It may be effective to file bankruptcy, based on your circumstances. This will immediately stop all repossession actions and analyzes the time to get your situation, sorted out with your lender, so you are no longer threatened with losing your vehicles or other items. However, consider scheduling a free consultation with us so we can review your case during our free case evaluation.