What Are the New Jersey Bankruptcy Exemptions?
If you are considering filing for bankruptcy in New Jersey, you need to know the exemptions the state offers. Bankruptcy exemptions allow people to protect certain assets from liquidation or seizure during a bankruptcy case. Each state has different rules regarding which assets can be exempted, so it’s important to understand what is available in New Jersey.
The majority of states allow individuals to use either federal or state exemption laws when filing for bankruptcy. In New Jersey, however, residents may only utilize state exemption statutes when listing their property and debts as part of their case. This means that filers cannot use federal exemptions even if they may be more generous than those offered by the state.
The Law Offices of the Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706