Source: https://blog.scura.com/using-new-jersey-bankruptcy-exemptions
Timestamp: 2018-06-22 20:54:00
Document Index: 408487155

Matched Legal Cases: ['§ 2', '§ 2', '§ 2', '§ 8', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 17', '§ 18', '§ 18', '§ 34', '§ 38', '§ 42', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 43', '§ 44', '§ 52', '§ 53']

Consequently, exemptions limits are applicable to any equity you have in the property. The equity value of property is the difference between the value of the property and what is actually owed, if any. For example, the value of a 1969 Ford Mustang is $50,000.00, with a remaining loan balance of $40,000.00. The equity the debtor owns is $10,000.00.
In New Jersey, a debtor may choose between two sets of exemptions: the federal exemptions or the New Jersey exemptions.
This following chart will specifically look at the New Jersey Exemptions:
N.J. Stat. Ann § 2A:17-19
Personal Property-General
$1,000-Individual
$2,000-Joint
Personal Property-Clothing
Stocks and Interest in Corporation
N.J. Stat. Ann § 2A:17-56
90% of earned but unpaid wages if income is under $7,500.00.
N.J. Stat. Ann § 2A:26-4
Personal Property-Household Goods & Furnishing
N.J. Stat. Ann §§ 8A:5-9, 8A:5-10, 8A:5-11
Cemetery companies: property, trust funds, lands dedicated for cemetery purposes
N.J. Stat. Ann § 17:18-12
N.J. Stat. Ann § 17:44B-1, et seq.
N.J. Stat. Ann § 17B:24-6
N.J. Stat. Ann § 17B:24-7
N.J. Stat. Ann § 17B:24-8
N.J. Stat. Ann § 17B:24-9
N.J. Stat. Ann §§ 18A:66-51, 18:13-112.53
Pension- Teachers
N.J. Stat. Ann §§ 18A:66-116, 18:5-80
Pension-School Employees
N.J. Stat. Ann §§ 34:15-29; 25:2-1, et seq.
N.J. Stat. Ann § 38A:4-8
Pay, Disability or Death Benefits for Military
N.J. Stat. Ann § 42:1A-11, et seq.
N.J. Stat. Ann § 43:6A-41
Pension-Judicial
N.J. Stat. Ann § 43:7-13
Pension-Prison Employee
N.J. Stat. Ann § 43:8A-20
Pension-Alcohol Control Officers
N.J. Stat. Ann §§ 43:10-14, 43:13-9, 43:13-22.60
Pension-City Employees
N.J. Stat. Ann §§ 43:10-18.22, 10-18.71
Pension-County Workers
N.J. Stat. Ann § 43:10-57
Pension-Probation Officers
N.J. Stat. Ann § 43:10-105
Pension-Court Interpreters
N.J. Stat. Ann § 43:13-37.5
Pension-Village Employees
N.J. Stat. Ann § 43:13-44
Pension-Municipal Employees
N.J. Stat. Ann § 43:15A-53
Pension & Annuities -Public Employees
N.J. Stat. Ann §§ 43:16-7, 43:16A-17
Pension-Police Officers, Fire Fighters
N.J. Stat. Ann § 43:18-12
Pensions-City Boards of Health
N.J. Stat. Ann § 43:19-17
Pension-Street & Water Dept.
N.J. Stat. Ann § 43:21-53
N.J. Stat. Ann § 44:7-35
N.J. Stat. Ann § 52:4B-30
N.J. Stat. Ann § 53:5A-45
Pension-Police
N.J. Stat. Ann § App. A:9-57.6
Injury, medical, pension, and death benefits for civil defense workers
If you are interested in filing for bankruptcy, and are unsure if the federal exemptions or the New Jersey exemptions are more advantageous to you, please contact one of our experienced attorneys for a free consultation.