Some of your property may be protected through exemption when you file for bankruptcy. New Hampshire allows you to use either state exemptions or federal exemptions. If filing with a spouse, each of you may claim the full amount.
The 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!
Homestead:up to $100,000
Motor Vehicle:up to $4,000
Tools of Trade:up to $5,000
Insurance:firefighters aid, homeowners’ insurance, fraternal benefit society
Wildcard:up to $7,000 for tools of 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 federal bankruptcy exemptions, please refer to 11 USC § 522. One exemption list may allow you to keep more property than the other, so it is important that you retain a well experienced seasoned attorney to advise you.
If you are considering filing for bankruptcy, you need to obtain guidance. Call Buckley Law Offices, P.C. to receive counsel from an experienced bankruptcy attorney. We have been practicing since 1992 and are focused on effectively addressing your needs. We can help you maximize your assets and keep the property that is important to you. Our firm offers a free case evaluation and you should take advantage of this unique opportunity!