Any resident of New Hampshire can be affected by bankruptcy. No matter your profession or income level, the need to file bankruptcy can occur at any time. At Notinger Law, we have vast experience in the area of bankruptcy, having represented individuals and businesses filing for Chapter 7 and 11 bankruptcy. Our firm is very familiar with bankruptcy laws in New Hampshire and can assist you in the process. From handling secured and unsecured creditors, equity holders and landlords in bankruptcy cases and also debtors, our team can easily assist with all your bankruptcy needs.
Often times, bankruptcy happens to hardworking individuals who have fallen on hard times, be it from the loss of a job or sickness. Medical issues, divorce or unemployment are common issues behind the need to file for bankruptcy. While bankruptcy is often associated with poor financial budgeting, it is a viable option for individuals who need to move past overwhelming financial debt. Despite there being a stigma behind bankruptcy, it should be looked at as a tool. Do not let that stop you from learning more about the process and begin on the path to a fresh start with your finances.
Benefit from Hiring a Bankruptcy Attorney
The New Hampshire laws associated with bankruptcy can be hard to understand. With an experienced attorney on your side that specializes in bankruptcy, you will have someone helping you to understand the process. There are several options you have for filing for bankruptcy in New Hampshire and an attorney will be able to help you choose the right path to follow. Our attorneys will help you understand the terminology associated with bankruptcy and get you started with the filing process.
Chapter 7 Bankruptcy
For most people, Chapter 7 bankruptcy is the option chosen when seeking protection under the Bankruptcy Code. This option is ideal for individuals who have unsecured debt like credit debt or medical bills. With this filing, you typically are allowed to maintain your assets. After filing, the court will issue an order which prevents any creditors from continuing to collect anything that you owe. Any pending lawsuits or annoying phone calls will stop. There are exemptions when filing for Chapter 7, and an attorney at Notinger Law will be able to assist you in learning your options, such as what debts will be voided and what property will be exempt.
With Chapter 11 bankruptcy filing, you will be proposing a payment plan to seek relief from debt. This payment plan will stop creditors from collection activities and help you have one low payment in which to knock out debt in a shorter time frame. This type of bankruptcy is usually filed by small businesses but can also apply to individuals. When it comes to a small business, by filing Chapter 11 bankruptcy, you will be able to maintain possession and act as the business trustee. You will be in control of the business during this process and can hopefully get back on your feet with debt reorganization and see your business succeed. Chapter 11 bankruptcy laws are also complicated so a trusted attorney with experience in this area is needed to ensure that debt is taken care of and all protocols followed.