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New Hampshire Bankruptcy Questions & Answers

1 Answer | Asked in Bankruptcy for New Hampshire on

Q: I live in NH. Will be filing for chapter 7 in February. Just got offered a $20K PI settlement. Can I keep that $?

Andrew Bresalier answered on Feb 5, 2014

A: No, you will not be able to keep. Any remaining proceeds existing at the time of the Bky filing that are beyond the available exemptions will become subject to the case. A word of warning, do not put the funds in someone elses name or spend it haphazardly, as the Trustee will pursue it.

1 Answer | Asked in Bankruptcy for New Hampshire on

Q: What are basic requirements to fi;e for bankruptcy?

Andrew Bresalier answered on Feb 5, 2014

A: Debt is not the only thing to look at when considering Bky. Income must be examined to confirm you pass the Means Test (income is compared to those in your community). You must also examine transfers/sales (court could reverse transfers or sales for less than market value) and exemptions (you... Read more »

1 Answer | Asked in Bankruptcy for New Hampshire on

Q: How much debt is needed to claim bankruptsy

Andrew Bresalier answered on Feb 5, 2014

Debt is not the only thing to look at when considering Bky. Income must be examined to confirm you pass the Means Test (income is compared to those in your community). You must also examine transfers/sales (court could reverse transfers or sales for less than market value) and exemptions (you... Read more »

1 Answer | Asked in Bankruptcy for New Hampshire on

Q: Will bankruptcy dismiss federal income taxes due?will bankrupcy dismiss court ordered payments to my exes attorney

Andrew Bresalier answered on Feb 5, 2014

A: Taxes are not dischargeable. Equitable Distribution is Dischargeable; however, if the payment is in the “Nature of Support” it is not Dischargeable.

1 Answer | Asked in Bankruptcy for New Hampshire on

Q: Do I need a lawyer for bankruptcy?

Andrew Bresalier answered on Feb 5, 2014

A: If you are a natural person, verses a fictitious (i.e. corp, llc, etc.), you are permitted to represent yourself in court. However, Bky is a VERY COMPLICATED area of law, involving a combination of State Laws and Federal Procedures.

1 Answer | Asked in Bankruptcy for New Hampshire on

Q: How do we know which kind of bankruptcy we can do after a foreclosure has been finalized?

Andrew Bresalier answered on Dec 8, 2011

If you are giving up the house, you would want to do a Seven (7) to discharge any deficiency.

For a regular person there are two basic types of bankruptcy. A Chapter 7, also called Liquidation or Straight Bankruptcy, and a Chapter 13, also called Reorganization. A 7 takes a few months, and...
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