New Jersey STATE LAW

WAGE GARNISHMENT EXEMPTION:

– Garnishment may not exceed 10% of gross salary. Monies may not be withheld if disposable weekly earnings are less than $154.50 per week or $309.00.00 every 2 weeks

MAXIMUM INTEREST RATE:

– Legal: 6% Judgment: None specified

STATUTE OF LIMITATIONS ON ENFORCEMENT:

– Open Account (credit card): 6 years
– Written Contract: 6 years
– Domestic Judgment: 20 years
– Foreign Judgment: 20 years

BAD CHECK LAW DAMAGES:

– None specified

tape recording

– One party state

BANKRUPTCY PROPERTY EXEMPTIONS:
(New Jersey Statutes Annotated)

– Can use either the state exemptions below or the federal exemptions
– The State of New Jersey has exempted the property and income below from seizure by the bankruptcy court to pay creditors:

Real Property:

– None

Personal Property:

– Furniture and household goods up to $1,000 [2A:26–4]
– Clothing, unlimited amount [2A:17–19]
– Burial plots, unlimited amount [8A:5–10]
– Any personal property or stock in corporation up to $1,000 total [2A:17–19]

Insurance / Annuities:

– Annuity contract proceeds to $500 per month [17B:24–7]
– Group life or health policy or proceeds, unlimited amount [17B:24–9]
– Disability, death, medical or hospital benefits for civil defense workers, unlimited amount [A:9–57.6]
– Health or disability benefits, unlimited amount [17:18–12 and 17B:24–8]
– Life insurance proceeds if proceeds cannot be used to pay beneficiary's creditors, unlimited amount [17B:24–10]
– Life insurance proceeds if debtor is not the insured [17B:24–6(b)]
– Military disability or death benefits, unlimited amount [38A:4–8]

Pensions / Retirement Plans:

– Retirement benefits, unlimited amount [43:13–9]
– Teachers, unlimited amount [18A:66–51]
– Alcohol beverage control officers, unlimited amount [43:8A–20]
– County employees, unlimited amount [43:10–57 and 43:10–105]
– Firefighters and police officers, unlimited amount [43:16–7]
– City board of health employees, unlimited amount [43:18–12]
– Civil defense workers, unlimited amount [A:9–57.6]
– Judges, unlimited amount [43:6A–41]
– Municipal employees, unlimited amount [43:13–44]
– Prison employees, unlimited amount [43:7–13]
– Public employees, unlimited amount [43:15A–53]
– School district employees, unlimited amount [18A:66–116]
– State police, unlimited amount [53:5A–45]
– Street and water department employees, unlimited amount [43:19–17]
– Traffic officers, unlimited amount [43:16A–17]

Public Benefits / Entitlements:

– Workers compensation, unlimited amt [34:15–29]
– Unemployment compensation, unlimited amt [43:21–53]
– Crime victims compensation, unlimited amt [43:21–53]
– Aid to aged and permanent disability benefits [44:7–35]

Wages:

– Ninety percent of earned but unpaid wages if income under $7,500, otherwise court decides amount [2A:17–56]

Miscellaneous:

– Business partnership property, unlimited amount [42:1–25]