New Hampshire Laws and Legal Materials

Want to know about New Hampshire's laws? This article breaks down the state's key laws and regulations in a way that's easy to understand, without any legal jargon or confusing terms. We'll explain New Hampshire laws and regulations and what they mean for regular inhabitants—no fancy law degree required.

Debt Collection Law in New Hampshire

When it comes to debt collection in New Hampshire, there are rules in place to prevent untrustworthy, abusive tactics by debt collectors. Federal laws regulate what collection methods debt collectors can and cannot use when going after the money you owe.

In New Hampshire, debt collection practices are governed by two main laws. The first is the state's Unfair, Deceptive, or Unreasonable Collection Practices Act (RSA 358-C) (State Act), and the second is the federal Fair Debt Collection Practices Act (15 U.S.C. § 1692-1695) (FDCPA).

In addition to those two laws, debt collection activities in New Hampshire also have to follow regulations set by the Federal Trade Commission (FTC) aimed at preventing deceptive or abusive collection conduct.

Where To Get Help If You Face Abusive Debt Collection In New Hampshire

1. Contact the FTC Federal Trade Commission at 600 Pennsylvania Ave., NW Washington, DC 20580 at 1-877-FTC-HELP or 1-877-382-4357 (toll-free).
2. Contact the NH Consumer Protection & Antitrust Bureau: New Hampshire Consumer Protection & Antitrust Bureau Department of Justice 1 Granite Place South Concord, NH 03301-6397 603-271-3641.
3. Contact Consumer Credit Counseling Service Consumer Credit Counseling Service of New Hampshire and VT 105 Loudon Road Concord, NH 03301 1-800-327-6778 (toll-free).

The statute of limitations (SOL) in New Hampshire

The statute of limitations, or SOL for short, is a law that sets a time limit on how long a creditor can legally take you to court over an unpaid debt. It's kind of like an expiration date for their ability to sue you.

In New Hampshire, the SOL for most debts is 3 years. However, the exact timeframe varies depending on the specific type of debt:

• Credit card debt: 3 years
• Medical bills: 6 years
• Vehicle/auto loans: 4 years
• Mortgage debt: 20 years

Once that statute of limitations time window closes, the creditor can no longer drag you to court trying to collect that debt. But here's the catch - the debt doesn't just get erased or forgiven. The creditor can still technically try contacting you about it through calls, letters, etc. They just can't take legal action.

So it's really important to keep track of when that SOL clock runs out for each debt you owe. That way you know your rights and can make smart decisions about paying it off or not. The SOL helps protect you from getting sued over really old debts forever and ever.

Want to learn more about FDCPA and debt law? Check out these resources:

• FDCPA
• Debt collection abuse
• Debt collection laws in NH

Debt settlement in New Hampshire

Debt settlement is a process where you negotiate with the companies or lenders you owe money to in order to settle up and pay off the debt for less than the full amount. In New Hampshire, there are debt settlement companies that can help facilitate this negotiation process for you - they'll communicate directly with your creditors to try and work out settlement deals on your behalf.

When considering debt settlement in New Hampshire, it's important to understand the potential pros and cons. The obvious upside is that if you can successfully settle and pay a reduced amount, it provides major debt relief. However, there can also be some negative consequences like a temporary hit to your credit score. Additionally, not all lenders are willing to negotiate settlements, so there's no guarantee you'll be able to work something out.

New Hampshire itself doesn't have any specific laws regulating debt settlement companies that operate in the state. However these companies do have to follow federal rules under the Telemarketing Sales Rule (TSR). This prevents them from charging upfront fees before delivering any services and requires transparency in what they disclose to customers.

If you want professional help pursuing debt settlement negotiations in New Hampshire, you can hire a reputable local debt settlement firm or even a bankruptcy lawyer. They can evaluate your situation, work on negotiating with creditors, and provide guidance on the best path for resolving your debt for good.

Check out these resources if you want to learn more:

• Debt settlement in NH
• Payday loan laws in NH
• How to Settle Credit Card Debts
• Debt management

Additional Consumer Law Resources in NH

• New Hampshire Interest Rates Laws
• New Hampshire Identity Theft Laws
• New Hampshire Deceptive Trade Practices Law
• New Hampshire Estate Planning Laws
• New Hampshire Accident and Injury Laws
• New Hampshire Tax Laws
• New Hampshire Property and Real Estate Laws

Filing for Bankruptcy in New Hampshire

How much it costs to file for bankruptcy in New Hampshire depends on the specific type you pursue. For a Chapter 7 bankruptcy filing, you're looking at a $338 fee. For Chapter 13, the filing fee is $313.

When it comes to bankruptcy exemptions that protect certain assets in New Hampshire, there are a few key things to know:

• You can generally keep a certain amount of equity in your home, vehicle, personal belongings, and retirement accounts.
• However, the specific state exemption amounts and rules haven't been updated recently, so they should only be used as a general guideline.
• To get the full accurate scoop on what assets would be exempt in your case, it's best to do your own thorough research or, even better, consult with an experienced local bankruptcy attorney.

The bankruptcy attorneys will know all the latest details on New Hampshire's exemption laws to ensure you can take full advantage of protecting as many of your assets and belongings as possible when filing. Don't just rely on outdated state exemption info - get the facts from a legal professional.

For more information on bankruptcy, check out these resources:

• F&Q of Bankruptcy
• Bankruptcy Attorney

Living Trust law in New Hampshire

A living trust is a legal arrangement that allows you to transfer ownership of your assets like property, investments, etc. into a trust fund while you're still alive. In New Hampshire, revocable living trusts are a commonly used estate planning tool because you can modify or completely revoke/cancel the trust at any point.

To set up a living trust in New Hampshire, you appoint a trustee - this is the person or entity responsible for managing and overseeing the assets held in the trust for the beneficiaries' best interests. Once assets get transferred into the trust fund, they are technically no longer considered part of your personal estate and can avoid probate court processes after you die.

While living trusts provide some advantages like avoiding probate and more privacy, they don't actually help reduce estate taxes in New Hampshire specifically. That's because New Hampshire has no state estate tax, and the federal estate tax exemption currently sits at $13.61 million as of 2024. So for most people's estates, there are no tax advantages to a living trust.

The primary benefits are more so about transferring your assets ahead of time and avoiding probate court procedures when you pass away. But it's still a popular estate planning approach used by many in New Hampshire for those reasons and to maintain control of the assets.

Learn more about Living Trust in NH.

Conclusion

This guide provides the basics on some key consumer laws and resources in New Hampshire related to debt collection rules, debt settlement, bankruptcy options, and living trusts. Understanding your rights and what resources are available can help you make more informed money decisions.

We encourage you to check out the additional resources and do more research to really dive deeper into any of these legal topics that are relevant to your situation. If you're dealing with aggressive debt collectors or considering bankruptcy and other debt-relief options, don't hesitate to reach out to the appropriate agencies and organizations to get the help you need.

Just keep in mind that this guide merely provided a general overview. Every person's financial circumstances are different. So for anything specific to your unique situation, it's always best practice to consult with local attorneys, legal experts, and other qualified professionals who can provide personalized, one-on-one guidance.

The more familiar you are with New Hampshire's consumer protection laws and support resources, the better you can navigate the legal system and self-advocate when needed. Knowledge is power when it comes to ensuring your rights as a consumer are fully protected.