New Hampshire Bankruptcy Facts
Looking for the top bankruptcy attorneys in New Hampshire? Then you have come to the right place. Our site features an array of elite legal professionals that specialize in the U.S. Bankruptcy Code so you know you will be working with the best attorneys in your area. Whether you have accrued debt from old credit card payments, medical bills, taxes, or loans, our bankruptcy lawyers will take care of all your financial burdens and make sure you emerge from your case ahead.
What is Bankruptcy and How Can it Help You?
If you have been struggling with debt, you may have heard the term “bankruptcy” on more than one occasion. But what exactly is bankruptcy and how can it help you obtain debt relief?
Bankruptcy is a legal process that involves debtors seeks court approval to either reduce or eliminate their debts completely. Both individuals and business can file for bankruptcy provided they meet the perquisites. There are actually six types of bankruptcy under the U.S. Bankruptcy Code, known as “Chapters,” and selecting the one that’s best for you will make all the difference.
But despite the many options debtors have, two chapters are by far the most popular in New Hampshire: Chapter 7 and Chapter 13 bankruptcy. Most people file Chapter 7 bankruptcy, also known as liquidation bankruptcy, because it gets rid of the most debt in the fastest time and can be filed by both individuals and businesses. With Chapter 7, assets are liquidated in exchange for the discharge of debt, which can take around three to six months.
Chapter 13 on the other hand does not require any asset liquidation but debt will not be entirely eliminated. On the contrary, Chapter 13, known as reorganization bankruptcy, allows debtors to be placed on a payment plan to pay back creditors what they owe. Debts may be reduced, but will not be entirely discharged. Additionally, this chapter is only available to individuals, not businesses, and takes anywhere between three to five years to exit.
Regardless of which chapter is filed, it’s important to know that if you qualify for bankruptcy protection in New Hampshire, creditors will get off your back and you can relax knowing that debt relief will be close.
Seeking Legal Counsel with a New Hampshire Bankruptcy Lawyer
It’s not easy figuring out which chapter is best for your individual situation, but that’s where we come in. Browse our site to get connected to some of the most experienced bankruptcy lawyers in New Hampshire who will take on your case and help you obtain debt relief quickly and successfully. Regardless of whether you have amassed debt from unpaid bills or owe money in business expenses, when you have an experienced attorney on your side, you can rest assured your case will end with the best possible outcome.
Your attorney will begin your case by reviewing your income to determine if you qualify for bankruptcy protection, and if so, which chapter is best for your needs. They will then petition the court so that you can begin the process of filing for bankruptcy and will represent you in court and speak with your creditors to see how low your debt can go. Bankruptcy attorneys take care of every aspect of the process so you won’t have anything to worry about. And when you work with one of our featured attorneys, you can trust that your financial burdens will be lifted as quickly as possible.
Contact one of our acclaimed New Hampshire bankruptcy lawyers today and get on the road to financial freedom.