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Debt Consolidation in New Jersey

New Jersey residents rank in the lower half of the nation when it comes to states with the highest credit card balances. The average credit holder in New Jersey carries a balance of $5,153.19, putting the state in 30th place.

New Jersey fares similarly with respect to personal bankruptcy. The state ranks 33rd out of 50 states, with just under 20,000 residents filing for bankruptcy in a typical year, at a rate of 2.2 people out of every 1,000 in the state's population. Many individuals choose to use debt consolidation as a means of avoiding the need to file for bankruptcy.

However, New Jersey's position begins to fall as one considers its rankings with respect to student debt. 70% of the state's college graduates have loan debt upon completing their studies and do so with an average balance of $28,109, putting New Jersey in 4th and 18th place respectively.

Foreclosure rates in New Jersey are also high in comparison with the rest of the United States. On average, one in every 773 homes is in a state of foreclosure. Atlantic County tends to have foreclosure rates of more than double the state average, with almost 1 in every 338 homes experiencing foreclosure. This likely correlates with the high median sales price of $272,000 for a single-family home in in New Jersey, one of the highest amounts in America. Debt consolidation can help homeowners manage their financial challenges in such a way as to prevent falling into foreclosure.

New Jersey residents are protected by a number of state laws when it comes to debt and collections. For example, hospitals are limited in the amount they are allowed to charge uninsured patients. The state also operates a subsidy fund for health care that reimburses hospital for charity care provided to residents who do not have health insurance.


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Debt Consolidation In The News

Tips to Analyze Credit Reports and Spot Errors Shared by National Debt Relief

A lot of people have a hard time analyzing their credit reports that is why National Debt Relief aims to help them understand it better. The article titled "How To Analyze Your Annual Credit ...

Published:  Fri, 18 Jan 2019 02:17:00 GMT

Debt relief in store for 151 Career Education students

BISMARCK, N.D. (AP) - About 150 North Dakotans who were former students at the for-profit education company Career Education Corp. will receive student loan debt relief totaling more than $340,000. At...

Published:  Thu, 17 Jan 2019 17:13:00 GMT

FTC Bans Student Loan Debt Relief Scammers

Student loan debt relief scammers were on the receiving end of a ban by the Federal Trade Commission (FTC) as part of the agency's Operation Game of Loans. In addition to the ban, the defendants are s...

Published:  Thu, 17 Jan 2019 12:00:00 GMT

Lake Michigan Credit Union offering Federal Employee consumer loan relief during government shutdown

GRAND RAPIDS, MI (January 18, 2019) - Lake Michigan Credit Union is offering LMCU members who are qualified Federal Employees affected by the government shutdown a no fee payment deferral available on ...

Published:  Fri, 18 Jan 2019 05:30:00 GMT

Regions Financial Q4 focus on costs, branch consolidation

Sees 2019 adjusted average loans growth low single digit, consistent with forecast GDP growth. Q4 adjusted EPS figure excludes a 1-cent charge related to branch consolidation and severance from ...

Published:  Fri, 18 Jan 2019 04:49:00 GMT

Financial Mindfulness: Live and Let Go of Debt-Related Stress by Timberline Financial

Our team of highly skilled professionals will evaluate your current situation to see if you may qualify for one of our debt relief programs. You don't have to struggle with high-interest credit card d...

Published:  Fri, 18 Jan 2019 04:52:00 GMT

Money Matters: Take charge of student debt

Refinancing is available only with a new private loan. You might want to review federal consolidation loans, as well. Please note that if you refinance your old loans, you will have to abide by the te...

Published:  Thu, 17 Jan 2019 12:38:00 GMT

3 colleges that help you handle student debt

1. UNIVERSITY OF PITTSBURGH The University of Pittsburgh is offering graduating seniors up to $5,000 in federal student loan relief with one request: They pay it forward. The school's new program, Pan...

Published:  Thu, 17 Jan 2019 16:40:00 GMT

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