Judgments and Enforcement:
A judgment in the State of New Jersey generally may be enforced or revived for a period of twenty (20) years from the date of entry (Sec. 2A:14-5.) All non-exempt real estate and personal property of a judgment debtor may be levied upon and sold by executions for the payment and satisfaction of the judgment. However, no judgment obtained for the payment and satisfaction of any employment wage tax, including penalties, may be enforced pursuant to this section. (Sec. 2A:17-17, 2A:17-20.)
Upon application, a writ of execution of a money judgment may be issued against a judgment debtor’s non-exempt goods and chattels, lands if such judgment is rendered in the Superior Court, and the judgment debtor’s body if the court in which the judgment is rendered shall, by special order, so direct and shall designate in said order the maximum number of days during which the judgment debtor may be detained in custody under such body execution, in no case to exceed one hundred days. (Sec. 2A:58-4.)
Generally, when execution of the judgment is against the wages, debts, earnings, salary, income from trust funds or profits of a judgment debtor, notice of such wage execution to the judgment debtor is required. (Rule 4:59-1(d), Rules of Court.) The notice of wage execution shall be served on the judgment debtor in accordance with Rule 1:5-2. The judgment debtor may request a hearing to object to the wage execution within ten (10) days of receipt of the written notice, and a hearing will be scheduled by the clerk of the court within seven (7) days of receipt of the objection. The judgment creditor may waive in writing the right to appear at the hearing on the objection and rely on the papers submitted. However, in no case shall the amount specified in an execution issued out of any court against the wages, debts, earnings, salary, income from trust funds or profits due and owing, or which may thereafter become due and owing to a judgment debtor, exceed 10%, unless the income of such debtor shall exceed the sum of $7,500.00 per annum, in which case the court may order a larger percentage. (Sec. 2A:17-56.)
Confession of judgment is permitted under Rule 4:45 of the Rules Of Court of the State of New Jersey only upon motion after notice to the defendant served in lieu of summons in accordance with Rule 4:4-4 or by registered or certified mail. On the return day of the motion, the attorney at law, confessing judgment pursuant to the warrant, shall produce to the court the warrant, the bond or instrument, and the affidavit of the plaintiff or plaintiff’s attorney or agent, stating the true consideration for the liability stated in the instrument, the amount then justly due the plaintiff, and that the judgment is not confessed with a fraudulent intent or to protect the property of the defendant from creditors. The court may require additional proof in such form as it directs that the warrant was duly executed, the person liable is living and was notified of the application, and the debt or a part thereof is unsatisfied. The court shall then, if satisfied with the proofs, order entry of a judgment for such amount as it finds to be due. (Sec. 2A:16-13)
Under the Uniform Enforcement Of Foreign Judgments Act of the State of New Jersey, (Sec.2A:49A-25, et seq.) ,a judgment, decree, or order of a court of the United States or of any other court is entitled to full faith and credit in this State. A judgment creditor who wishes to enforce a foreign judgment may file file with the Clerk of the Superior Court an affidavit setting forth the name and last known post office address of the judgment debtor, and the judgment creditor. The affidavit shall further set forth whether the time to appeal the foreign judgment has expired and whether the court of origin has granted a stay of execution. In addition, in the case of a judgment entered by default, the affidavit shall so state and shall set forth the expiration date under the rules of the court of origin for vacating the default. (Sec. 2A:49A-28.) Notice of the filing of the foreign judgment is required to be mailed to the judgment debtor at the address given by the Clerk and the judgment creditor. No execution or other process for enforcement of a foreign judgment filed under this act may be issue until 14 days after the date the judgment is filed. A judgment so filed has the same effect and is subject to the same procedures, defenses and proceedings for reopening, vacating, or staying as a judgment of a Superior Court of this State and may be enforced in the same manner. (Sec. 2A:49A-27.)
Legal Rate: Six percent (6%) per annum for or loan of any money, wares, merchandise, goods and chattels. (Sec. 31:1-1(a).)
The rate of interest on a written contract may not exceed sixteen percent (16%) per annum. (Sec. 31:1-1(a).)
For judgments not exceeding the monetary limit of the Special Civil Part at the time of entry, i.e., less than $10,000.00, regardless of the court in which the action was filed: commencing January 2, 1986 and for each calendar year thereafter, the annual rate of interest shall equal the average rate of return, to the nearest whole or one-half percent, for the corresponding preceding fiscal year terminating on June 30, of the State of New Jersey Cash Management Fund (State accounts) as reported by the Division of Investment in the Department of the Treasury. (Rule 4:42-11(a)(ii).)
For judgments exceeding the monetary limit of the Special Civil Part at the time of entry: in the manner provided above until September 1, 1996; thereafter, at the rate provided in Rule 4:42-11(a)(ii) above plus 2% per annum.
Goods and chattels, shares of stock or interests in any corporation and personal property of every kind, not exceeding in value, exclusive of wearing apparel, $1,000.00, and all wearing apparel generally are reserved for a judgment debtor’s family use before and after death, and are not subject to execution. (Sec. 2A:17-19.) Household goods and furniture not exceeding $1,000.00 in value of a person shall also be exempt from attachment, except for a debt incurred in the purchase thereof. (Sec. 2A:26-4.) In addition, disability benefits, sickness insurance policies, workers’ compensation benefits, and retirement benefits are generally exempt from execution.
(Sec. 17:18-12, 34:15-29, 43:21-15(c), 43:13-9, 37.5.)
The State of New Jersey does not appear to provide a statutory provision for homestead exemption.