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Rules for being social media savvy in your divorce

The decisions that you make as you get close to divorce can profoundly impact the outcome of the process. Social media, which has become a commonplace part of everyday life, can have a major influence on the outcome of your divorce.

Depending on how you and your spouse approach the process, the things you share on social media could potentially cause you issues or help you prove something important in court. Getting divorced doesn't mean you have to eschew all use of social media, but it does require that you have a more careful and considered approach to online sharing.

New Hampshire sees fewest bankruptcies in years

No one starts a career or makes an investment thinking about how it could go wrong. Smart financial moves often involve risk, and some people can lose everything without making any predictable mistakes. This is one of the reasons that bankruptcy allows people with heavy debt to attempt to start over and recover from the past.

People and businesses in New Hampshire have several options for the right type of bankruptcy. Chapter 13 allows for many assets to be retained while debt is restructured to be paid off over future months and years. Chapter 7 often involves the selloff of any nonvital assets through a trustee who works with creditors to settle liabilities.

How do New Hampshirites get into and out of debt?

People in New Hampshire live free, but they also owe more than the average American. Financial stress and piles of debt can unnecessarily complicate someone's goals.

  • What are some big contributors to debt in New Hampshire?

Although medical bills used to be the main factor in personal debt, credit card debt and student loans are large pieces of the average New Hampshirite's debts. The Granite State is, in fact, the largest carrier of student debt per capita in the United States.

  • How bad are these problems?

Will I lose everything if I file for Chapter 7 bankruptcy?

Many people in New Hampshire experience financial challenges at some point of time. Sometimes, these challenges are temporary and can be absorbed into a person's budget. However, other times the challenges are so great or so long-lasting, that a person is simply unable to cope with them. People in dire financial straits may have heard that one way to address their many debts is through filing for Chapter 7 bankruptcy. However, they may be concerned that they will lose all their property in the process and will be left with nothing.

Fortunately, this is not true. While Chapter 7 is a liquidation bankruptcy in which a person's assets will be sold to pay off their debts, there are many federal and state exemptions to the liquidation process that will allow debtors to keep certain assets. In this way, the government recognizes that a person who files for bankruptcy needs to retain at least some assets, so they can make a fresh financial start.

Situations in which New Hampshire offers sole custody in divorce

In general, courts in New Hampshire prefer to arrange for shared custody scenarios in a divorce involving minor children. Although there was once a time when courts often favored one parent over the other, years of psychological and sociological research have made it clear that children have fewer negative consequences when they maintain healthy, balanced relationships with both parents.

In many cases, fully shared custody, with each parent assuming 50 percent of parenting times and other responsibilities, is the preferred outcome. That may mean alternating days or even weeks with your ex.

Is Chapter 11 bankruptcy the right choice?

Bankruptcy is one of those things which everyone knows can happen, but nobody likes to think about -- until debts pile up, and they have no choice.

One option for small business owners and individuals alike is Chapter 11 bankruptcy. Unlike a Chapter 7 bankruptcy, which liquidates your assets, Chapter 11 allows you to reorganize your debts in order to reduce their interest rates, lower and extend the payments and eventually repay.

  • Is a Chapter 11 bankruptcy best for me?

Parents in legal trouble may be taking it out on their children

The United States can appear divided over many issues, including the causes and effects of mass incarceration. However, parents can rally around the fact that children are negatively impacted by their guardians' criminal behavior. Recent research indicates that we do not fully understand the emotional and financial toll of having parents behind bars.

This is one of the reasons that divorced parents may seek full or at least a greater share of child custody if their former spouse is facing legal problems. Some types of criminal behavior, such as chronic drug use, also may other negative effects on children. Direct exposure to drug use is always a negative impression that may prove to haunt a child in later life.

Chapter 13 bankruptcy can help those with insurmountable debt

People in New Hampshire can find themselves facing hard financial times through no fault of their own. For example, they may have been laid off from work forcing them to use credit cards for daily expenses or they may have incurred hefty medical bills following a serious illness. When a person simply cannot pay back all their debts, they may want to consider filing for bankruptcy.

Chapter 13 bankruptcy may be an option for those who believe they can pay back some of their debts or who do not want their assets to be liquidated, as they would be in a Chapter 7 bankruptcy. Through a Chapter 13 bankruptcy, a court order will be issued under which the debtor is to pay a certain amount every month to a bankruptcy trustee, who will then use those funds to pay back the debtor's creditors. The plan usually takes three to five years to complete. However, during that timeframe, creditors cannot pursue collection actions against the debtor and once the plan is complete, many of the remaining debts can be discharged.

Holidays can be make-or-break time for divorce

If you are like many people considering divorce, you may do not want to make any big decisions before the holidays. People with children especially, tend to want to experience at least one more holiday season as a family unit before calling it quits. By the time Christmas break comes to an end, however, many have made up their minds.

According to the Chicago Tribune, the Monday after the Christmas break represents "divorce day," when family law offices normally experience a notable influx of divorce inquiries. In some cases, law firms experience two- to three-fold their normal email volume, an increase that lasts through the whole month of January. 

Creditors may lie to or abuse people suffering with debt

It's official. You are worried about debt. If you are not, someone nearby certainly is. A study of financial stress showed that New Hampshire residents are suffering emotional stress because they are concerned about paying back debts. The only financial stress equal to debt is worrying about not being able to afford a life-event emergency.

Owing money to lenders, creditors or even personal friends is often part of getting a life on track or pursuing a new venture. Many people are not concerned as much about their level of debt as they are with the consequences of owing. New Hampshire's Department of Justice has identified several debt collection practices that can border on abuse.

Start Your Case Today

Whether you have a family law issue, an estate planning question or are considering bankruptcy, I can help you find a sustainable solution that provides relief and hope. Schedule your consultation at my Nashua, New Hampshire office today by calling 603-635-4149 or by sending us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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