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This Pin was discovered by Straffi & Straffi Attorneys at Law. Discover (and save!) your own Pins on Pinterest.

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Bankruptcy exemptions are laws that protect certain property from being sold to pay your creditors. In New Jersey, you c...

Bankruptcy exemptions are laws that protect certain property from being sold to pay your creditors. In New Jersey, you can choose between two sets of exemptions: the New Jersey exemptions (N.J.S.A.) or the federal bankruptcy exemptions under 11 U.S.C. § 522(d). Most filers do better with the federal exemptions because New Jersey's state exemptions are limited, with no statutory homestead exemption and no specific motor-vehicle exemption. However, if you own property jointly with a spouse as tenants by the entirety, the state exemptions may offer advantages.
https://www.straffilaw.com/new-jersey-bankruptcy-exemptions/

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A bankruptcy discharge is a court order that eliminates your legal responsibility to repay certain debts. Once a debt is...

A bankruptcy discharge is a court order that eliminates your legal responsibility to repay certain debts. Once a debt is discharged, you are no longer personally liable for it, and creditors cannot take any further collection actions against you. However, not all debts can be discharged, and the process differs between Chapter 7 and Chapter 13 bankruptcy.
https://www.straffilaw.com/bankruptcy-discharge-lawyer/

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In most cases, medical bills can be wiped out through bankruptcy in New Jersey. Because medical bills are treated as uns...

In most cases, medical bills can be wiped out through bankruptcy in New Jersey. Because medical bills are treated as unsecured debt under federal bankruptcy law, they qualify for discharge through either Chapter 7 or Chapter 13 bankruptcy. The right chapter depends on your income, assets, and goals: some people qualify for a faster discharge, while others benefit from a structured repayment plan.
https://www.straffilaw.com/can-my-medical-debt-be-paid-off…/

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When you’re considering Chapter 7 bankruptcy, one of the first questions is whether you meet New Jersey’s income require...

When you’re considering Chapter 7 bankruptcy, one of the first questions is whether you meet New Jersey’s income requirements. Eligibility is often determined by the means test, which uses a six-month income lookback and compares it to New Jersey’s median income guidelines for the applicable filing period. If your average income over the six months before filing falls below these thresholds, you generally qualify without additional analysis. If your income exceeds the median, you may still qualify by passing the means test, which evaluates your disposable income after allowable living expenses.
https://www.straffilaw.com/what-are-income-limits-chapter-…/

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What Is Bankruptcy Discharge in New Jersey? - Daniel Straffi - BSPE Legal Marketing Podcast

from Straffi & Straffi Attorneys at Law https://www.buzzsprout.com/2026843/episodes/18618083-what-is-bankruptcy-discharge-in-new-jersey-daniel-straffi