Skip to content
NH: 603-881-9161 MA: 978-458-4566 Call for a Free Consultation

Facing Possible Bankruptcy in New Hampshire or Massachusetts?

You’re not alone. In 2019 there were 774,940 bankruptcy filings in the United States. And out of that number, 22,780 were from businesses.

Bankruptcy is a legal process through which individuals and businesses may seek relief from some of their debts if they cannot repay their debts to creditors. This process can be complicated, depending on the specific circumstances involved. Because it is a legal process, it would be in your best interest to speak with a qualified bankruptcy attorney.

Everyone’s financial situation is unique, and in some cases, you may not even need to file. There are different types of bankruptcies that may benefit you, depending on your situation and business.

Attorney Joseph M. Annutto is a bankruptcy lawyer for New Hampshire and Massachusetts he has over 25 years of experience helping individuals and businesses navigate the legal system concerning bankruptcy laws.

Bankruptcy Process in New Hampshire and Massachusetts

The bankruptcy process in New Hampshire and Massachusetts can be complicated and confusing. It can be difficult to maneuver without the proper legal experience and understanding of the ever-evolving bankruptcy laws of New Hampshire or Massachusetts and how those laws can affect your case.

The first step that is required before filing for bankruptcy in New Hampshire is to undergo credit counseling. This meeting needs to be done six months before being able to file. This counseling is a way to help individuals and families handle their financial situation and clearly understand their position. The experienced Nashua and Woburn attorneys at the Law Office of Joseph M. Annutto can explain the filing for bankruptcy in New Hampshire or Massachusetts and guide you to the right steps for your unique case.

Types of Bankruptcy in New Hampshire and Massachusetts

The type of bankruptcy filed plays a massive role in the property that can be kept or considered exempt.

Chapter 7  Bankruptcy – this is a type of liquidation under which you risk losing the property you have worked hard to acquire. However, having these debts wiped out virtually gives you a fresh start and the clean slate you need to regain some financial confidence.

Chapter 13 Bankruptcy – this can help you keep assets, including your home. By filing for Chapter 13 bankruptcy and setting up a repayment plan with your creditors, you get to keep what you want and get three to five years to pay back your debts.

Chapter 11 Bankruptcy – this is a form of bankruptcy that allows a business or entity owner to stay in control of day to day operations and decisions. Chapter 11 also helps a business owner settle debts without having to liquidate all assets.

Benefits to Filing Bankruptcy in Hillsborough County or Middlesex County

Some of the benefits of filing for bankruptcy are immediate, and others will become evident as your get back on your feet. One of the first immediate benefits is stopping harassing debt collectors. Your creditors will have to stop calling you or reach you by mail for settlement of debts. A bankruptcy filing also puts a halt to any foreclosure action or home sale. Another way bankruptcy can help you is by halting attempts to garnish your wages. Once harassment or relentless collection attempts stop, you can focus on the next steps in regaining control over your finances. Before making a decision, it is essential to have trusted and experienced legal advice and guidance.

Annutto Law Office is here to support your Massachusetts and New Hampshire legal needs with estate planning, family law, bankruptcy, criminal defense, and personal injury representation. We offer legal advice with experience you can trust in Hillsborough County, Middlesex County, and surrounding area communities. Joseph Annutto and his expert legal team welcome you to contact us to learn more about how our Nashua and Woburn law firm can help meet your bankruptcy goals.

Back To Top