New Hampshire Bankruptcy Exemptions - NH Bankruptcy Exemptions
Only the State Exemptions are Allowed
New Hampshire Bankruptcy Exemptions
Homestead
$100,000
wearing apparel necessary for the use of the debtor and his family;
comfortable beds, bedsteads and bedding necessary for the debtor, his wife and children
Household furniture
$3,500
Bibles, school books and library of any debtor, used by him or his family
$800
one hog and one pig, and the pork of the same when slaughtered; Six sheep and the fleeces of the same; one cow; a yoke of oxen or a horse, when required for farming or teaming purposes or other actual use; and
hay not exceeding 4 tons;
domestic fowls not exceeding $300 in value
the debtor's interest in any property, not to exceed $1,000 in value, plus up to $7,000 of any unused amount of the exemption provided under paragraphs III, VI, VIII, IX, XVI, and XVII of section 511:2.
$750
Motor vehicle
$4,000
Jewelry owned by the debtor or his family
$500
Tools of trade
$5,000
NOTE: These are the major bankruptcy exemptions.
Check with your bankruptcy lawyer for a full exemptions list.
Homesteads:
The exemption for a homestead is limited to $125,000 if the property was acquired within the previous 1215 day (3.3 years). The cap is not applicable to any interest transferred from a debtor's previous principal residence (which was acquired prior to the beginning of such 1215-day period) ;
The value of the state homestead exemption is reduced by any addition to the value brought about on account of a disposition of nonexempt property made by the debtor (made with the intent to hinder, delay, or defraud creditors) during the 10 years prior to the bankruptcy filing.
An absolute $125,000 homestead cap applies if either:
the court determines that the debtor has beeen convicted of a felony demonstrating that the filing of the case was a abuse of the provision of the Bankruptcy Code; or
the debtor owes a debt arising from a violation of federal or state securities laws, fiduciary fraud, racketeering, or crimes or intentional torts that caused serious bodily injury or death in the preceeding 5 years. NOTE: This limitation is inapplicable if the homestead property is "reasonably necessary for the support of the debtor and any dependent of the debtor."
The state you use for your exemptions is:
The state you lived in for the 730 days (2 years) before filing; or
If you did not live in a single state in the previous 2 years you use the state where you lived the majority of the 180 period preceding the 2 year period; or
If the preceding renders you ineligible for any exemptions then the debtor is allowed to choose the federal exemptions.
Pension Plans exempt from seizure:
Employee contributions to ERISA qualified retirement plans, deferred compensation plans, tax-deferred annuities, and health insurance plans.
Education Funds exempt from seizure:
Funds placed in an educational retirement account or qualified State tuition programs at least 365 days prior to a bankruptcy filing, within the limits established by the Internal Revenue Code, and for the benefit of a child or grandchild of the debtor, are excluded from the debtor's estate, with a $5,000 limit on funds contributed between one and two years before the filing.
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