New Jersey State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. New Jersey law provides a number of exemptions that protect
your property, and your attorney will be able to advise you on which exemptions
are best for you.
Homestead
No specific homestead exemption.
Wages
90% of earned but unpaid wages if income under $7500; if income over $7500,
judge decides amount that is exempt.
Automobiles
No specific automobile exemption.
Other Property
Furniture and household goods up to $1,000 in value; burial plots; clothing;
other personal property up to $1,000 in value.
Note: Exemptions may have changed since our last update. For the latest updates on these property exemptions, speak to a local bankruptcy lawyer.
» Read the complete New Jersey
bankruptcy exemptions here
» Click Here to read the Federal bankruptcy
exemptions.
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