For some debtors in New Hampshire who are considering bankruptcy as a possible solution to overcoming unmanageable debt, Chapter 13 debt reorganization may be a viable option. In Chapter 13 bankruptcy, the debtor enters a repayment plan lasting between three and five years, during which time he or she will be required to make all scheduled payments to the estate. At the estate's close, the remaining unsecured debts will then be discharged.
If a New Hampshire homeowner is in a grim financial situation that might lead to a home foreclosure, a variety of methods can be followed to avoid such an outcome. Because each method requires different resources and actions, homeowners should take their time and consider consulting a professional before making a final decision.
New Hampshire debtors searching for a debt relief plan might want to consider bankruptcy. But before one goes down that route, there are other alternatives to consider. Each choice has pros and cons that should be weighed, and some options are better suited to different situations.
New Hampshire residents with student loans are among those most likely to make timely payments according to the credit reporting agency Experian. Other states that scored well for student loan repayment in the September 2014 report were Vermont, Massachusetts, Minnesota and North Dakota. However, the credit agency also found that the level of student debt had risen sharply since the 2008 financial crisis, which has led to significant financial challenges for many Americans as they struggle to pay the loans that they took on in college.
When people receive bills in the mail, most people automatically pay them. Unfortunately, not everyone in Rockingham County can always afford their bills, yet they can't just not pay them. So, many people in New Hampshire turn to short-term lenders who can provide easy access to money. Although a car title loan may seem like a good idea when a bill needs to be paid, it can actually cause more debt than it helps to erase.
With more and more adults going back to school in light of the recent recession, federal and private student loans are on the increase. This is a trend that doesn't appear to be ending anytime in the foreseeable future.