New Jersey Bankruptcy Exemptions

On this page you can find all of the exemptions for New Jersey. Exemptions are the property that you can keep when you file bankruptcy.

CATEGORY
PROPERTY
AMOUNT
STATUTE
Homestead
Homestead Exemption
None (But see Freda v. Comm. Trust, 570 A.2d 409 (NJ 1990)
Wages / Wage Garnishment
Wages, earnings, salary, income & profits
100% if less than $48 per week; 90% if greater than $48 per week & less than 250% of poverty level
N.J. Rev. Stat. § 2A: 17-50, 17-56
Wages / Wage Garnishment
Military pay, allowances & benefits of members of state militia
100%
N.J. Rev. Stat. § 38A: 4-8
Insurance
Disability benefits
100%
N.J. Rev. Stat. § 17:18-12
Insurance
Civil defense injury & death benefits
100%
N.J. Rev. Stat. § App. A: 9-57.2
Insurance
Group life insurance policies & proceeds
100%
N.J. Rev. Stat. § 17B: 24-9
Insurance
Proceeds & avails of life insurance policies payable to persons other than the insured and the person effecting the insurance
100%
N.J. Rev. Stat. § 17B: 24-6
Insurance
Annuity contract benefits
$500 per month
N.J. Rev. Stat. § 17B: 24-7
Insurance
Fraternal Benefit Society benefits
100%
N.J. Rev. Stat. § 17: 44B-1
Insurance
Health & disability insurance proceeds & avails
100%
N.J. Rev. Stat. § 17B: 24-8
Insurance
Pay, disability or death benefits for military member
100%
N.J. Rev. Stat. § 38A:4-8
Personal Property
Cemetery companies: property, trust funds, lands dedicated for cemetery purposes
100%
N.J. Rev. Stat. § 45:27-20
Personal Property
Goods, chattels, shares of stock & personal property of any kind
$1,000
N.J. Rev. Stat. § 2A: 17-19
Personal Property
Household goods & furniture
$1,000
N.J. Rev. Stat. § 2A: 26-4
Personal Property
Wearing apparel
no limit
N.J. Rev. Stat. § 2A: 17-19
Pensions / Retirement Accounts
Qualifying trust under IRC and retirement funds
100%
N.J. Rev. Stat. § 25:2-1 & 43:15A-53
Pensions / Retirement Accounts
Prison officers retirement benefits
100%
N.J. Rev. Stat. § 43: 7-13(e)
Pensions / Retirement Accounts
State police retirement & pension benefits
100%
N.J. Rev. Stat. § 53: 5A-45
Pensions / Retirement Accounts
Street & Water Dept. employees pension benefits
100%
N.J. Rev. Stat. § 43: 19-17
Pensions / Retirement Accounts
Teachers & school district employees retirement & pension benefits
100%
N.J. Rev. Stat. § 18A: 66-51, 116
Pensions / Retirement Accounts
City Board of Health employees pension benefits
100%
N.J. Rev. Stat. § 43: 18-12
Pensions / Retirement Accounts
Judicial Retirement Systems benefits
100%
N.J. Rev. Stat. § 43: 6A-41
Pensions / Retirement Accounts
Alcoholic Beverage Law Enforcement Officers pension fund benefits
100%
N.J. Rev. Stat. § 43: 8A-20
Pensions / Retirement Accounts
Police & firemen's retirement & pension benefits
100%
N.J. Rev. Stat. § 43: 16-7, 16A-17
Pensions / Retirement Accounts
Pensions and annuities: public employees
100%
N.J. Rev. Stat. § 43:15A-53
Pensions / Retirement Accounts
County employees retirement & pension benefits
100%
N.J. Rev. Stat. § 43: 10-14, 10-18.22, 10-18.71, 10-57
Pensions / Retirement Accounts
Pensions-court interpreters, 2nd class counties
100%
N.J. Rev. Stat. 43:10-105
Pensions / Retirement Accounts
Municipal employees retirement& pension benefits
100%
N.J. Rev. Stat. § 43: 13-9, 13-22.34, 13-22.60, 13-37.5, 13-44
Public Benefits
Crime victim’s compensation
100%
N.J. Rev. Stat. § 52: 4B-64
Public Benefits
Workmen's compensation benefits
100%
N.J. Rev. Stat. § 34: 15-29 & 25:2-1
Public Benefits
Old age assistance payments
100%
N.J. Rev. Stat. § 44: 7-35
Public Benefits
Unemployment compensation benefits
100%
N.J. Rev. Stat. § 43: 21-15(c), 21-53
Miscellaneous
Specific partnership property
100% of partner's interest
N.J. Rev. Stat. § 42: 1A-11

If you want to learn more about filing bankruptcy in New Jersey please visit our FAQ Page or for more information about New Jersey you can visit the New Jersey section.