The New Hampshire bankruptcy exemptions chart, see below, details the property you can exempt or protect from creditors when you file bankruptcy in New Hampshire. You may exempt any property that falls into one of the exemptions categories below, up to the dollar amount listed. You will be able to kept this exempted property after you file bankruptcy. Please note that there are certain debts which you will not be able to erase in bankruptcy. (see Non-dischargeable Debts)
An exemption limit applies to any equity you have in the property. Equity is the difference between the value of the property and what is owed on the property. For example, a car valued at $5000 with a loan of $4500 has an equity value of only $500.
If the property is secured by a loan, such as a car or home, and you are current on the payments and the equity is covered by your exemptions, you may elect to keep making payments on the loan and keep this property through the bankruptcy. If all the equity is not covered by your exemptions the trustee may elect to liquidate this asset and distribute the proceeds. Generally, in this case, you would be entitled to the value of your exemption in the asset as a cash payment.
Bankruptcy law allows married couples filing jointly to each claim a full set of exemptions, unless otherwise noted.
To keep non-exempt property, a debtor must generally pay the trustee the value of the non-exempt property.
When you file bankruptcy in New Hampshire you may also use certain federal exemptions in addition to your New Hampshire exemptions.
ASSET | EXEMPTION DESCRIPTION | LAW SECTION |
Homestead | Real property or manufactured housing (if you own the land it’s on) to $50,000 | 480:1 |
Insurance | Firefighters’ aid insurance Fraternal benefit society benefits Homeowners’ insurance proceeds to $5000 | 402:69 418:24 512:21 (VIII) |
Miscellaneous | Child support Jury, witness fees Property of business partnership Wages of minor child | 161-C-11 512:21 (VI) 304A:25 512:21 (III) |
Pensions | Federally created pension (only benefits building up) Firefighters Police officers Public employees | 512:21 (IV) 102:23 103:18 100A:26 |
Personal Property | Automobile to $4000 Beds, bedsteads, bedding & cooking utensils needed Bibles & books to &800 Burial plot, lot Church pew Clothing needed Cooking & heating stoves, refrigerator Cow, 6 sheep or fleece; 4 tons of hay Domestic fowl to $300 Food and fuel to $400 Furniture to $3500 Hog, pig or pork (if already slaughtered) Jewelry to $500 Proceeds for lost or destroyed exempt property Sewing machine | 511:2(XVI) 511:2(II) 511:2(VIII) 511:2(XIV) 511:2(XV) 511:2(I) 511:2(IV) 511:2(XI), (XII) 511:2(XIII) 511:2(VI) 511:2(III) 511:2(X) 511:2(XVII) 512:21(VIII) 511:2(V) |
Public Benefits | Aid to blind, aged, disabled, AFDC Unemployment compensation Workers’ compensation | 167:25 282A:159 281A:52 |
Tools of Trade | Tools of your occupation to $5000 Uniforms, arms & equipment of military member Yoke of oxen or horse needed for farming or teaming | 511:2(IX) 511:2(VII) 511:2(XII) |
Wages | Earned but unpaid wages; judge decides amount exempt based on a percentage of the federal minimum wage Earned but unpaid wages of spouse | 512:21(II) 512:21(III) |
Wild Card | None |
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For more information on filing bankruptcy in New Hampshire explore New Hampshire Bankruptcy Law.
