New Hampshire Bankruptcy Exemptions

You can protect property in bankruptcy using either the New Hampshire bankruptcy exemptions or the federal exemptions.

Updated February 6, 2019

You won’t lose all of your assets when filing for bankruptcy in New Hampshire. You can use New Hampshire’s bankruptcy exemptions to protect property you’ll need to work and maintain a household, such as equity in a home and car, household furnishings, clothing, and a retirement account.

Your other choice—using the federal bankruptcy exemptions—could provide more protection, depending on the assets you own.

New Hampshire Exemptions v. Federal Bankruptcy Exemptions

Some states, including New Hampshire, allow residents to choose between the state and federal bankruptcy exemptions. You can’t protect property by using exemptions from both lists—you must pick the system that will work best for you. If you elect to use New Hampshire’s state exemptions, the federal nonbankruptcy exemptions will be available to you, too.

Common New Hampshire Bankruptcy Exemptions

Here are some of the more common exemptions in New Hampshire. When reviewing them, you’ll want to keep these things in mind:

  • Joint filing. Unless otherwise noted, when spouses file together in New Hampshire, each spouse can claim the full amount of the exemption (informally called “doubling”) as long as each spouse has an ownership interest in the property.
  • List and verify your exemptions. You must claim an exemption by listing it in the official bankruptcy forms. You might qualify for exemptions not included in this article, or be required to meet qualification requirements. Consulting with a local bankruptcy attorney is the best way to ensure that you’re protecting your assets.
  • Legal citations. You’ll find each of the statutes in the New Hampshire Revised Statutes or the federal law.

New Hampshire Homestead Exemption

480:1 - Equity in a homestead property or mobile home (manufactured home) up to $120,000.

New Hampshire Motor Vehicle Exemption

511:2(XVI) - Equity in one automobile up to $4,000.

New Hampshire Wildcard Exemption

511:2(XVIII) – Up to $1,000 of any property, plus up to $7,000 of any exemption amount not used for jewelry, furniture, fuel, books, tools of the trade, or a vehicle.

Other New Hampshire Exemptions

Personal Property

511:2 - Clothing; beds, bedding and cooking utensils; furniture up to $3,500; refrigerator, cooking stove, and heating stove; sewing machine; provisions and fuel up to $400; books up to $800; one hog and one pig; six sheep and their fleeces; one cow, yoke of oxen, or horse when required for farming, and hay up to four tons; domestic fowl up to $300; church pew; jewelry up to $500; and burial plot or lot

512:21 - Proceeds for lost or destroyed exempt property, up to $5,000.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts (including 401(k)s, 403(b)s, profit sharing and money purchase plans, SEP and SIMPLE IRAs, and defined benefit plans).

11 U.S.C. § 522(b)(3)(C)(n) - IRAS and Roth IRAs to maximum (amount changes).

100A:26 - Public employees.

103:18 - Police officers.

102:23 - Firefighters.

512:21(IV) - Pensions or bounty money.

512.2 - ERISA-qualified, IRA and Roth IRA retirement accounts.

Public Benefits

167:25 - Public assistance; aid to blind, aged, and disabled.

281A:52 - Workers' compensation.

282A:159 - Unemployment compensation.

Tools of Trade

511:2 - Tools of trade up to $5,000; arms, uniforms, and equipment of a military member; 1 yoke of oxen or horse needed for farming or teaming.

Insurance

402:69 - Firefighters' aid insurance.

418:17 - Fraternal benefit society benefits.

512:21 - Homeowners' insurance proceeds up to $5,000.

Miscellaneous

304A:25 - Business partnership property (particular property).

Other

Add any applicable federal nonbankruptcy exemptions.

Nonexempt Property—Property You Can’t Protect With a New Hampshire Exemption

Some people can keep all assets, but that isn’t always true. Here’s what will happen to nonexempt property:

  • In a Chapter 7 bankruptcy, the bankruptcy trustee appointed to administer your case will sell nonexempt property and distribute the proceeds to creditors. Find out more about the bankruptcy process and the Chapter 7 documents you'll need at each stage.
  • In a Chapter 13 bankruptcy, it works differently. You can keep everything you own, but you’ll pay creditors the value of the nonexempt property, your disposable income, or your nondischargeable debt (support obligations, most taxes, and the like), whichever is more, through your Chapter 13 repayment plan.

You’ll learn more about Chapter 7 and 13 in Which Type of Bankruptcy is Right for Me?

Exemptions, Collection Actions, and Wages

State exemptions are used for more than just bankruptcy. You can use them to protect your property and wages in a collection action. Here is New Hampshire’s wage exemption (wage exemptions can’t be used in bankruptcy pursuant to In re Damast, 136 B.R. II (Bankr. D. N.H. 1991):

512:21 - Earned but unpaid wages of debtor and spouse; payroll account deposits when designated as such; 50 times the federal minimum hourly wage per week; jury and witness fees; wages of a minor child.

Learn more in Debt Collectors & Debt Collection.

Confirming New Hampshire Exemptions

This list includes the majority of bankruptcy exemptions available in New Hampshire, but not all. Specific exemptions could have qualification requirements, and amounts might have changed since this list was last updated. Check the New Hampshire Revised Statutes or with a local bankruptcy lawyer.

To learn more about bankruptcy exemptions, the state exemption system, and the homestead exemption rules, read Bankruptcy Exemptions – What Can I Keep When I File for Bankruptcy?

Talk to a Lawyer

Need a lawyer? Start here.

How it Works

  1. Briefly tell us about your case
  2. Provide your contact information
  3. Choose attorneys to contact you
NEED PROFESSIONAL HELP ?

Talk to an attorney.

How It Works

  1. Briefly tell us about your case
  2. Provide your contact information
  3. Choose attorneys to contact you