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Bankruptcy

Chapter 13 bankruptcy—eligibility

Any individual, even if self-employed or operating an unincorporated business, is eligible for chapter 13 relief as long as the individual's unsecured debts are less than $394,725 and secured debts are less than $1,184,200. These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation or partnership may not be a chapter 13 debtor.

In New Hampshire, as per federal bankruptcy law, any individual, including those who are self-employed or running an unincorporated business, can qualify for Chapter 13 bankruptcy relief provided their financial obligations meet certain thresholds. Specifically, the individual's unsecured debts must be less than $394,725 and secured debts must be less than $1,184,200. These debt limits are subject to adjustment based on changes in the consumer price index, ensuring that the thresholds reflect current economic conditions. It's important to note that these figures may have been updated since the knowledge cutoff date, so it's advisable to check the latest amounts. Corporations and partnerships are not eligible to file for Chapter 13 bankruptcy; this form of bankruptcy is exclusively available to individuals.

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Bankruptcy

Chapter 13 bankruptcy—eligibility

Individual & Family Legal Plan

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New-Hampshire State Code

New-Hampshire State Code

Bankruptcy

Chapter 13 bankruptcy—eligibility

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