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NEW HAMPSHIRE BANKRUPTCY LAW

New Hampshire Bankruptcy: Attorneys, Statistics, Exemptions and Courts.

New Hampshire Bankruptcy Statistics: In New Hampshire, in 2009, 5,233 bankruptcies were filed. Business bankruptcies accounted for 542 or 10.36% and personal bankruptcies accounted for 4,691 or 89.64% of the total filings.

New Hampshire State Bankruptcy Exemptions

Homestead

The home (“homestead”) exemption is limited to $100,000. New Hampshire defines “homestead” to include real property or manufactured housing, and the land on which it is located, provided you own the land.

Personal Property

The following expenses or items are exempt in their entirety in New Hampshire:

  1. Sewing machine
  2. Proceeds for destroyed or lost exempt property
  3. Deposits in payroll accounts
  4. Stove
  5. Refrigerator
  6. Clothing
  7. Church pew
  8. Burial plot
  9. Bedding, beds, and cooking utensils

The following expenses or items are exempt up to a specified limit in New Hampshire:

  1. Motor vehicle limited to $4,000
  2. Jewelry limited to $500
  3. Furniture limited to $3,500
  4. Fuel and food limited to $400
  5. Domestic fowl limited to $300
  6. Books and Bibles limited to $800
  7. 1 hog or pig (or pig meat)
  8. 6 sheep (and their fleece), 1 cow, 4 tons of hay

Pensions

The following individuals’ and their survivors’ pension benefits are exempt when filing for bankruptcy in New Hampshire:

  1. Firefighters
  2. Police officers

The following pension types are exempt or partially exempt when filing for bankruptcy in New Hampshire:

  1. Federally created pensions

Insurance

The following types of insurance are entirely or partially exempt when filing for bankruptcy in New Hampshire:

  1. Firefighters’ aid
  2. Fraternal benefit society benefits
  3. Life insurance proceeds (not cash value)
  4. Homeowners’ insurance proceeds-limited to $5,000

Public Benefits

The following public benefits are exempt when filing for bankruptcy in New Hampshire:

  1. Unemployment compensation
  2. Workers’ compensation
  3. Aid to the blind, the disabled, or the elderly
  4. Public assistance

Tools of the trade

“Tools of the trade” is a separate exemption in New Hampshire. The following items qualify as tools of the trade in New Hampshire:

  1. Tools of your employment limited to $5,000
  2. Arms, equipment or uniforms of a member of the military
  3. Yoke of oxen or horse needed for teaming or farming

Wages

In New Hampshire, fifty times the weekly federal hourly minimum wage, or earned but unpaid wages of the debtor’s spouse.

Miscellaneous

The following miscellaneous items are exempt in New Hampshire:

  1. Wages of a minor child
  2. Property of a business partnership
  3. Witness or jury fees

Wildcard

Any property up to $1,000. In addition, the unused portion of Bibles and books, furniture, motor vehicle, jewelry, food and fuel, and tools of the trade exemptions limited to $7,000 qualifies as a Wildcard exemption.

Federal Exemptions: No, debtors are not allowed to take federal exemptions when filing for bankruptcy in New Hampshire.

New Hampshire Bankruptcy Court:

United States Bankruptcy Court, District of New Hampshire

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