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Bankruptcies increased in 2017 in state of New Hampshire

The total number of bankruptcy filings increased in 2017 in the state of New Hampshire, according to a report. The increase, which was a miniscule 1 percent, is the first increase for the state since 2010. In fact, the number of bankruptcy filings rose twice in 2017; once for the overall year and in the month of December.

In the month of December, 142 businesses and households filed for bankruptcy in New Hampshire. This number came in at 24 more than the number of bankruptcies filed in December 2016. The 142 bankruptcies filed in December 2017 are three less than the number filed in November 2017.

The 142 filings in December brought the total number of bankruptcy filings in New Hampshire to 1,822 for the year 2017, which is good for 21 more filings compared to 2016 or an average of roughly two more filings each month. This equates to a 1 percent increase from 2016.

The last time New Hampshire saw an increase in bankruptcy filings was 2010. That year bankruptcies rose by 7.5 percent. The total number of bankruptcies filed in New Hampshire in 2010 came in at 5,500. After 2010, the state experienced declines in the double digits until a decrease of 9 percent occurred in 2016.

Are you in a poor financial situation in Nashua? Do you need advice regarding your next steps? It's best to speak with an experienced Chapter 7 bankruptcy attorney about your situation so you can make an informed decision about the next steps you should take.

Source: NH Business Review, "NH’s 2017 ended with slight annual increase in bankruptcies," Jan. 03, 2018

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