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 New Jersey TotalBankruptcy.com 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.
» Read the complete New Jersey bankruptcy exemptions here.
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Please understand that this information is provided for illustration purposes only and is not legal advice. If you would like more information about exemptions, please call our 24-hour toll free hotline at 1 (877) 349-1309 or use our free online evaluation form to get started with your bankruptcy case today!
Note: Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.