New Hampshire Debt Relief
In New Hampshire, the Credit Card Debt law provides one of the shorter time limits for creditors to sue over outstanding open-ended debt. This 3-year time limit, called a Statute of Limitations (SOL), begins from the date of the first missed scheduled payment. Partial payments made by the debtor renew the SOL from the date of payment. Because there are only 30 days allowed to answer a summons before a default judgment will be entered, debtors served with a summons should file a timely answer and send it by certified mail.
New Hampshire law gives debtors 20 years to collect on judgments, as long as the judgment is executed within 2 years. The interest allowed on judgments is 10%, based on the US Treasury discount rate. Debtors must follow a legal process to attach a lien on real property, but generally all non-exempt property both real and personal, may be levied. Liens against personal property last 6 years.
Homestead exemptions are allowed up to $30,000 and some personal property exemptions also apply. New Hampshire law strongly discourages wage garnishments, making the process expensive and difficult for creditors to manage. Ongoing garnishments are not allowed, so the creditor must file a new lawsuit for each garnishment. However, a legal mechanism does allow a court-supervised payment plan, enforceable if the debtor defaults. Exemption from wages equals 50 times the federal minimum wage.
New Hampshire residents do have options to avoid debt lawsuits and seizures of property. By arranging for an interest free payment plan through Debt Settlement, they avoid painful court proceedings and may avoid bankruptcy as well.