A lot of people assume that debt is basically the same no matter where you are. Whether you’re in debt in New Hampshire, New Jersey, or New Mexico, your situation is basically the same, right? Well, no. Every state handles debt differently. So if you need New Hampshire debt consolidation solutions, you need to understand how debt law works in New Hampshire. Here are a few things you need to know.
The average person in New Hampshire has $5,327 in credit card debt. That’s a little higher than the $4,965 average for the nation as a whole. The rate of delinquency is slightly higher than average as well, with 0.58% of debtors being more than 90 days late with a payment, compared with the nation’s 0.57%.
On the other hand, the average credit score in New Hampshire is 715, significantly higher than the national average of 696. And there are just 7.3% of residents living below the poverty line, which is much lower than the nation’s 12.7%.
The statute of limitations for contracts and open accounts in New Hampshire is three years. For notes and negotiable instruments, that number becomes six years. And if there’s already a judgment against you, or if there’s a contract under seal, creditors have a full 20 years to pursue legal action. It’s also 20 years for mortgages, even if the mortgage has already been foreclosed.
There are a number of debt relief options for New Hampshire residents. You can try to budget your income more effectively, so you don’t struggle as much with credit card payments. You can consolidate your debts into a single monthly payment, so that it’s easier to manage, allowing you to pay in a timely manner and still have enough to support yourself and your family. You can also negotiate a debt settlement with your creditors, for a lower amount than what you owe. And much more. But how do you know which option is best for you? You need to call an expert.
Our experts are well-versed in New Hampshire debt laws and statutes. We can give you much more than just a generic solution. We can provide you with options you never knew you had, that are specific to New Hampshire, and specific to your situation.
Contact Americor today for a consultation.