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    Help in New Jersey

    What are the exemptions in New Jersey when file a chapter 13. Also can you have any cash in the bank and still keep it?

    #2
    Originally posted by suzyqpug View Post
    What are the exemptions in New Jersey when file a chapter 13. Also can you have any cash in the bank and still keep it?
    I don't have specific knowledge on New Jersey's exemptions, however I can direct you to a website that I have found to be correct and listing the current inflation-adjusted values for Michigan and federal exemptions. Their section for New Jersey is at: http://www.thebankruptcysite.org/exe...newjersey.html.

    Federal exemptions seem to be an option for residents of Maryland. The federal exemptions can be found at: http://www.thebankruptcysite.org/exe...s/federal.html.

    EDIT: LOL I have no idea what got me to originally talking about Maryland instead of New Jersey. Might have misclicked the small map. Edited rest of post to reflect New Jersey instead of Maryland.
    Last edited by phoenyx; 02-19-2008, 09:47 PM.
    Filed: 03/31/08 341: 05/15/08 Discharge: 07/15/08
    Do yourself a favor. Check everything I say with a bankruptcy attorney. Most attorneys will even provide a free initial consultation. In fact, it's your life, so check everything anyone says (including your attorney) for yourself!

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      #3
      Originally posted by suzyqpug View Post
      What are the exemptions in New Jersey when file a chapter 13.
      Exemptions are the same whether you file Ch 7 or Ch 13. Here's a link to the New Jersey exemptions - http://www.bankruptcyinformation.com/NJ_exemp.htm . However, since NJ has the stingiest exemptions in the whole country, luckily you can also elect to use the much more generous federal exemptions instead - http://www.bankruptcyinformation.com/exemp-fed.htm

      Also can you have any cash in the bank and still keep it?
      Depends on which set of exemptions you go with and what types of assets and equity you need to protect.

      Best thing you can do is make appointments for free or low cost initial consultations with 3-4 NJ bankruptcy lawyers in your area. You'll learn a great deal about what's going to be possible and what's not in your case.

      Keep posting questions here - we'll help you as much as we can.
      I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

      06/01/06 - Filed Ch 13
      06/28/06 - 341 Meeting
      07/18/06 - Confirmation Hearing - not confirmed, 3 objections
      10/05/06 - Hearing to resolve 2 trustee objections
      01/24/07 - Judge dismisses mortgage company objection
      09/27/07 - Confirmed at last!
      06/10/11 - Trustee confirms all payments made
      08/10/11 - DISCHARGED !

      10/02/11 - CASE CLOSED
      Countdown: 60 months paid, 0 months to go

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