Increases debt execution exemption amounts for household goods, establishes for persons in debt homestead, bank account, and disposable earnings exemptions, and caps medical debt interest rate.

This bill increases New Jersey debt collection protections for residents. It raises the household goods exemption from $1,000 to $15,000 (or $25,000 for those with physical disabilities), establishes a $400,000 homestead exemption for primary residences (including condos and manufactured homes), and creates a $5,000 bank account exemption. The bill also limits wage garnishment to 10% of disposable earnings or 60 times the minimum wage, whichever is lower, and caps medical debt interest rates at 3% annually. These changes directly affect New Jersey residents facing debt collection actions, particularly those with low income or medical debt.