Paterson is the county seat of Passaic County and the third-largest city in New Jersey. Known as the Silk City for its historical role in silk production, it is a diverse urban community in northern New Jersey.
New Jersey uses federal bankruptcy exemptions exclusively -- one of the few states in the nation that does so. Federal exemptions under 11 U.S.C. section 522(d) apply: Homestead: $27,900. Vehicle: $4,450. Jewelry: $1,875. Tools of trade: $2,800. Wildcard: $1,475 plus up to $13,950 of unused homestead. Household goods: $700 per item, $14,875 total. Retirement accounts: fully exempt.
Exemptions determine what property you can keep in bankruptcy. See the full exemptions guide.
These organizations may offer free or low-cost assistance. Contact them directly to verify current services and eligibility requirements.
Paterson residents file in the District of New Jersey at 50 Walnut St, Newark, NJ 07102. The drive from Paterson is approximately 20-25 minutes south on I-80 and NJ-21.
New Jersey uses federal bankruptcy exemptions only. The federal homestead exemption is $27,900 per debtor ($55,800 for married couples filing jointly). This may be sufficient for many Paterson homeowners depending on their equity.
While court documents must be in English, many bankruptcy attorneys in the Paterson area offer Spanish-language services. The court provides interpreter services for 341 meetings. Legal Services of New Jersey also has Spanish-speaking staff.
Use the free 1328(f) screener to check whether a prior discharge affects your eligibility.
Free Discharge Screener