Bankruptcy filings increased 32 percent last year in New Hampshire, and it’s more of the same so far this year.
There were 309 bankruptcy filings in the state last month, keeping pace with the nearly 4,000 in 2008. Most people are filing under Chapter 7, which means liquidating their assets to pay of debts in the hope of starting over.
Those involved with the system they’ve seen a change in the types of cases coming to bankruptcy court. They say they’re seeing more people who have nothing – they’ve already sold their cars and depleted their retirement accounts. One lawyer says many of those filing these days are self-employed contracts who have seen their work dry up.