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Generally, in NJ, almost any assets can be used to satisfy a judgment.
Some states provide for a "homestead exemption" which prevents a home (if the debtor lives there) from being taken by creditors, or at least prevents the owners from being evicted by the creditors, even if other assets are insufficient to cover the judgment.
However, New Jersey has no such exemption. There is, however, an order that creditors must follow in going after a debtor's assets. First, they have to go after cash, then personal property. If both of those are insufficient to cover the judgment, then they can go after real property.
NJ does, however, provide for an exemption of up to $1,000 in personal property.
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How long does a judgment stay on your credit report in New Jersey?
In New Jersey, a judgment can stay on your credit report for up to 10 years. However, it may be possible to have it removed earlier by resolving the debt or through certain legal procedures.
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Yes. If the creditor receives a lawsuit judgment the judgment can be enforced as a wage ganishment.
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Can a judgment in Florida force you to sell your home in NJ?
No. A Florida state court has no jurisdiction in New Jersey.No. A Florida state court has no jurisdiction in New Jersey.No. A Florida state court has no jurisdiction in New Jersey.No. A Florida state court has no jurisdiction in New Jersey.
Is Im from New Jersey the song for New Jersey?
NOI'm from jersey is not the song for new jersey
If I have a judgment lien and and have paid it in full what is that called?
Paying a judgment lien in full is generally considered to be a "satisfaction of judgment". Terminology may differ from one state to another based on its laws and customs. In New Jersey, the holder of a judgment that is paid in full must give the debtor a document entitled "Warrant of Satisfaction of Judgment". The debtor sends this document to the state office where judgments are docketed so that the judgment can be listed as paid and the judgment lien removed.
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No, New Jersey is named after the European Jersey. That's why it's called 'new' jersey.
Statute of limitation in NJ for 16 year old judgment collection?
Judgments in New Jersey are valid for 20 years and are renewable (N.J.S.A. 2A: 14-5).
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Central New Jersey
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