Question 1

How many bankruptcy attorneys are in New Jersey?

Accepted Answer

There are 919 bankruptcy attorneys listed in New Jersey on National Bankruptcy Advocates. New Jersey sees approximately 8,500 bankruptcy filings per year. Browse profiles to compare experience, practice areas, and ratings.

Question 2

Do I qualify for Chapter 7 bankruptcy in New Jersey?

Accepted Answer

The Chapter 7 means test compares your income to New Jersey's median household income of $99,781. If your income is below this threshold, you likely qualify for Chapter 7 without further calculation. The median household income in New Jersey is $99,781 (ACS 2023). 116% of New Jersey bankruptcy filers chose Chapter 7 liquidation. A local New Jersey bankruptcy attorney can run the full means test calculation for your household size and expenses.

Question 3

What are the bankruptcy exemptions in New Jersey?

Accepted Answer

New Jersey has specific bankruptcy exemptions that protect certain assets during bankruptcy, including homestead, vehicle, retirement account, and personal property exemptions. The median home value is $430,000 and the homeownership rate is 64.8%. The exact exemption amounts vary. A local New Jersey bankruptcy attorney can advise you on which exemptions apply to your situation and how to maximize your protected assets.

Question 4

How much does it cost to file bankruptcy in New Jersey?

Accepted Answer

Filing fees for bankruptcy in New Jersey are set by the federal courts: $338 for Chapter 7 and $313 for Chapter 13. Attorney fees typically range from $1,000–$3,500 for Chapter 7 and $2,500–$6,000 for Chapter 13, depending on case complexity. Many New Jersey bankruptcy attorneys offer free initial consultations.

Question 5

How long does bankruptcy take in New Jersey?

Accepted Answer

Chapter 7 bankruptcy in New Jersey typically takes 3–6 months from filing to discharge. Chapter 13 requires a 3–5 year repayment plan before discharge. The timeline depends on the complexity of your case and the workload of the local bankruptcy court. An experienced New Jersey bankruptcy attorney can give you a more accurate estimate based on your specific situation.

Question 6

What is the financial situation in New Jersey that leads to bankruptcy?

Accepted Answer

New Jersey sees approximately 8,500 bankruptcy filings per year. 9.7% of New Jersey residents live below the poverty line (ACS 2023). The median household income in New Jersey is $99,781 (ACS 2023). These economic conditions contribute to the demand for bankruptcy and debt relief services in New Jersey.

New Jersey Bankruptcy Attorneys

Top Bankruptcy Attorneys in New Jersey

Stuart M Nachbar

Law Office of Stuart M Nachbar

Steven John Kolis

Elizabeth Abrao

Melinda D. Middlebrooks

Avraham Save

Federal Housing Administration

Lakeasha S. Evans

David Cushing

VESL Oils, LLC a/k/a Treeline Brands

Michael Schonberger

Jeffrey M. Sponder

Cosmetic Solutions LLC

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