CHAPTER 7 BANKRUPTCY
Individuals who reside, have a place of business, or own property in New Hampshire may file for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code. New Hampshire’s federal bankruptcy court is located in Manchester. Anyone considering a Chapter 7 bankruptcy should consult with a licensed attorney prior to making a final decision to file. Chapter 7 bankruptcy is a serious and complicated legal undertaking and is not a cure for every financial problem that an individual may have.
In a Chapter 7 bankruptcy, many types of unsecured debt are legally discharged by the bankruptcy proceeding, but there are various types of debt that cannot be discharged. Common exceptions to discharge include child support, income taxes less than 3 years old and property taxes, student loans, criminal fines and restitution imposed by a court.
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