for April 2019

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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

Four things to look for when seeking a debt relief service

Do you have crippling debt? Are you thinking about declaring bankruptcy? Bankruptcy stays on your credit report for 7 to 10 years and has a detrimental effect on your credit score for even longer. ...

Published:  Wed, 24 Apr 2019 01:59:00 GMT

Elizabeth Warren's student debt relief plan: Could it super-charge the economy?

Student debt stands at $1.46 trillion, with $79 billion in debt added in 2018 alone. College debt is linked to delayed milestones of adulthood, such as buying a first home, and a decline in small ...

Published:  Tue, 23 Apr 2019 11:51:00 GMT

How to Consolidate Your Student Loans

Many college graduates who borrow money to finance their education end up with multiple student loans. I ended up with about a dozen between my undergraduate degree and graduate school. If you have ...

Published:  Tue, 23 Apr 2019 06:47:00 GMT

Warren calls for massive student debt relief and free public college tuition

Senator Elizabeth Warren unveiled a sweeping plan Monday to forgive massive amounts of student loan debt for middle-class Americans as she tries to appeal to the young voters expected to play a major ...

Published:  Mon, 22 Apr 2019 05:01:00 GMT

Liz Weston: How debt "solutions' could dig you in deeper

Americans are slipping ever deeper into hock. To cope, many people turn to debt consolidation loans, cash-out mortgage refinancing and retirement plan loans that promise relief but could leave them ...

Published:  Wed, 24 Apr 2019 08:39:00 GMT

Elizabeth Warren: My Student Loan Debt Relief Plan "Goes Further" Than Bernie Sanders'

In an interview with CNN's MJ Lee, Sen. Elizabeth Warren discusses her plan to offer student loan debt relief and lower the cost of college. MJ LEE, CNN: Senator Elizabeth Warren out with a sweeping ...

Published:  Mon, 22 Apr 2019 09:30:00 GMT

The Passionate Responses to Elizabeth Warren's Polarizing Student Debt Relief Plan

We told you yesterday about Elizabeth Warren's new plan to make two- and four-year public colleges free for students and cancel up to $50,000 in student loan debt for millions of Americans. The ...

Published:  Wed, 24 Apr 2019 00:46:00 GMT

Senator Elizabeth Warren called for massive student debt relief. Here's the average student loan debt in every state.

Two angles facing left, which often indicate, "return to the beginning." Two angles facing right, which often indicate, "advance to the end." With American millennials owing more than $1 trillion in ...

Published:  Tue, 23 Apr 2019 07:41:00 GMT

Impeachment, Student Debt Relief and Jail Time for CEOs: Elizabeth Warren's Policies Help Her Stand Out Among 2020 Field

Massachusetts Senator and 2020 presidential candidate Elizabeth Warren has taken progressive but controversial stances on three major issues in past weeks, successfully setting herself apart from the ...

Published:  Mon, 22 Apr 2019 13:18:00 GMT

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