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Ranked the 42nd most populous state, New Hampshire is home to 1,334,795 residents. It’s 9,531 square miles of land makes it the 6th smallest state in the nation. This state may be small but is known as the only state where the conclusion of a foreign war was meet.

Back in 1905, the treaty that ended the Russo-Japanese war was signed in Portsmouth. This state is also home to the first public library in the nation, founded in Peterborough in 1833. This is one of the 13 original colonies that broke away from Britain and formed their own society. This state also was the place where the first strike occurred for women in 1828. It took place on December 30th at the Denver Cotton Factory where 400 women who worked the mills walked out on strike.

New Hampshire has an unemployment rate of 5.1 percent, which is just slightly higher than the national average. Its total laborers is 612,710. The top working fields are Office and Administrative Support, Sales, and Food Preparation. The median income level per household is $67,819.

Homeowners account for 74.9 percent of the total New Hampshire population. 711 is the average credit score of New Hampshire citizens. This puts them in the very good to an excellent range with the major credit reporting bureaus.

Its largest cities include Manchester, Nashua, and Concord. Manchester has an unemployment rate of 5.2 percent and a population of 109,565 people. Nashua has a higher unemployment rate of 5.6 percent and 86,494 residents. Lastly, Concord has 42,695 people and a low unemployment rate of 4.4 percent.

Negotiating Debt In New Hampshire

If you are struggling with credit card debt and live in the great state of New Hampshire, it may be in your best interest to speak to a debt settlement company. These companies will work with your creditors to negotiate the amount of debt you owe.

In many cases, these companies are able to form an agreement with the majority of your creditors to reduce the amount you owe. This can work for credit card debt, personal loans, and other forms of debt that you may have.

You should also realize that there are set statutes of limitations your creditors have to follow when attempting to collect the outstanding debt that you owe. You can learn more about these below.

New Hampshire Debt Collection Practices

Regardless of how much debt you owe, creditors and collection agencies have to follow strict standards set by the government for how they collect on that debt. As of right now, New Hampshire has set a limit of 10 percent to be charged maximum in interest by a collections agency. The wage protection of this state is 50 times the federal minimum hourly wage each week.

This state falls into the national realm of the Fair Debt Collection Practices Act (FDCPA). This is an Act that outlines how creditors can go about collecting debt from their borrowers. Some examples of these stipulations include:

Collection agencies may not discuss your debt with anyone other than your spouse. In addition, they must wait at least 30 days after attempting to contact the debitor before speaking to their spouse.

A collection agency may only contact a debitor once at month at their place of employment unless agreed upon otherwise by the debitor.

Collection agencies may only send one piece of mail to a borrower at their place of employment after they make a valiant effort to contact them at home.

These are just a few examples of the stipulations that are outlined by the FDCPA. You can get the entire list by visiting the FTC Website. It’s important to know and understand your rights when it comes to collection agencies. If your creditor is violating your rights you can report them to the Federal Trade Commission for discipline.

New Hampshire’s Statutes Of Limitations

The government specifies how much time a creditor has from the time a borrower stops paying on a loan until they are no longer able to file suit against the borrower to collect a debt. This time is known as a statute of limitation. Each state sets their own standards for the time allowed for different types of debt. New Hampshire’s are as follows:

Oral Agreements, Written Contracts, Promissory Notes, and Open Accounts (ie. credit cards) are set at a three-year limitation by law.

This means if you stop paying on your loans, the creditor has up to three years from the date you went delinquent on the account to file legal action against you. If the creditor does sue you, but the court case takes longer than three years you are still bound by the result of the case. This statute is intended for only the filing of legal suits.

If you currently owe more debt than you can comfortably pay back it’s a good idea to contact a debt settlement firm. They can help pick out the best option for your individual needs and spare your credit rating from further imperfections that could restrict your ability to borrow money in the future.