Personal Bankruptcy Information

Federal supplemental exemptions can be used in conjunction with your New Jersey exemptions and can be viewed here.

In New Jersey, you may choose to use the federal exemption set instead of your state exemptions.

Also see New Jersey bankruptcy forms.

ASSET	EXEMPTION DESCRIPTION	LAW SECTION
Homestead	None
Insurance	Annuity contract proceeds to $500 per month Disability or death benefits for military member Disability, death, medical or hospital benefits for civil defense workers Fraternal benefit society benefits Group life or health policy or proceeds Health or disability benefits Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors Life insurance proceeds or avails if you’re not the insured	17B:24-7 38A:4-8 App. A:9-57.6 17:44A-19 17B:24-9 17:18-12, 17B:24-8 17B:24-10 17B:24-6b
Miscellaneous	Property of business partnership	42:1-25
Pensions	Alcohol beverage control officers City boards of health employees Civil Defense workers County employees ERISA-qualified benefits Firefighters, police officers, traffic officers Judges Municipal employees Prison employees Public employees School district employees State police Street & water department employees Teachers Trust containing personal property created pursuant to federal law unless conveyance into trust done fraudulently or debt is for child support or alimony	43:8A-20 43:18-12 App. A:9-57.6 43:10-57, 43:10-105 43:13-9 43:16-7, 43:16A-17 43:6A-41 43"13-44 43:7-13 43:15A-53 18A:66-116 53:5A-45 43:19-17 18A:66-51   25:2-1
Personal Property	Goods & chattels, personal property & stock or interest in corporations to $1000 total Burial plots Clothing Furniture & household goods to $1000	2A:17-19 8A:5-10 2A:17-19 2A:26-4
Public Benefits	Crime victims’ compensation Old -age, permanent disability assistance Unemployment compensation Worker’s compensation	52:4B-30 44:7-35 43:21-53 34:15-29
Tools of Trade	None
Wages	90% of earned but unpaid wages if income under $7500; if income over $7500; judge decides amount that is exempt Wages or allowances received by military personnel	2A:17-56 38A:4-8
Wild Card	None