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/
https://www.straffilaw.com/new-jersey-bankruptcy-exemptions/
from Straffi & Straffi Attorneys at Law https://www.facebook.com/straffiandstraffi/posts/pfbid029LmSaACo9Mj3EHx6z5AMkuqYjWSYwx3TEwN6v5pf4DJc18aV4TQwngi96w84pqbNl
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