New Jersey Bankruptcy Laws & Property Exemptions
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New Jersey Bankruptcy Laws

Information on Filing Bankruptcy in New Jersey

After you learn more about the bankruptcy process, you should be better able to make an informed decision about which debt-relief option may help.

Find out more about Chapter 7 and Chapter 13 bankruptcy laws in New Jersey by reading below, then talk to a local lawyer about your situation.

To schedule an appointment with a local New Jersey bankruptcy lawyer, simply fill out the free case review form below.

For the names and office locations of the New Jersey lawyers in your area click here.

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New Jersey Bankruptcy Law

If you choose to meet with a lawyer, he or she may ask you some personal questions about your debts and assets, or have you fill out an intake sheet. This information is collected in order to help you and your bankruptcy lawyer determine which type of bankruptcy - Chapter 7 or Chapter 13 - is best for you. Each also has its own qualification requirements, and your answers will help with this as well.

Chapter 7 bankruptcy is a frequent option for people with lots of unsecured debt who own less property. If you do not own a lot of property, you may discover that Chapter 7 bankruptcy is an attractive option because many of your unsecured debts, such as credit card and medical bills, could be discharged.

Debtors who are considering filing Chapter 7 bankruptcy should discuss with their New Jersey bankruptcy lawyer which and how much of their belongings may be exempt from liquidation.

On occasion, Chapter 7 bankruptcy involves a liquidation of property. New Jersey’s Chapter 7 exemptions, however, allow for a good deal of your property to be protected.


  • 90 percent of your earnings, unless that amounts to more than 250 percent above the poverty level. Depending on the size of your family, this percentage and exception may vary.

Personal Property

  • Up to $1,000 of furniture and household goods.
  • Burial plots.
  • Clothing.
  • Up to $1,000 of other personal property.

Chapter 13 bankruptcy is often called "reorganization." Chapter 13 bankruptcy is often a good fit for people who own more property since it has vast protections for homes, cars and other items.

In Chapter 13 bankruptcy cases, you, your lawyer and the court create a debt repayment plan to be approved by the bankruptcy court. This 3-5 year plan allows you time to catch up on past due bills while under bankruptcy protection that may stop collections and repossessions.

Talk to a New Jersey Bankruptcy Lawyer Today

People who are considering filing bankruptcy in New Jersey often feel overwhelmed by complicated state bankruptcy laws.

In order to clear up any confusion about state bankruptcy laws, you may want to have a New Jersey bankruptcy lawyer explain the process to you in non-technical language. When you meet with your bankruptcy lawyer, you may also have the opportunity to get answers your questions about how the laws will apply to your case.

Finding a New Jersey bankruptcy lawyer near you is easy. Simply fill out the free case review form on this page or give us a call at 877-349-1309, and we’ll connect you with a local bankruptcy attorney.

Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.

Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.

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