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New Jersey debt consolidation makes your debt payments affordable


If you're overburdened with debt in New Jersey, you should start exploring your options before it gets too late. You should consider choosing New Jersey debt consolidation or settlement to pay your bills and get your finances back on track.

How does New Jersey debt consolidation help you?

New Jersey consolidation helps you get rid of your bills in 2 ways. You can either choose a consolidation program or get a consolidation loan to pay off your bills. Based on your financial situation, you can choose either option and repay your outstanding bills with affordable monthly payments.


  • New Jersey consolidation loan: If you want to get rid of bills faster, you should consider taking out a New Jersey debt consolidation loan at a low interest rate. With the loan, you can repay your bills and get your creditors off your back. However, you won't be completely debt-free until you pay off the consolidation loan. You are also required to have good credit score to qualify for a loan at a favorable interest rate.
  • New Jersey consolidation program: If you want to get rid of your bills completely, a consolidation program might be better than a consolidation loan. In a New Jersey debt consolidation program, you can combine all your bills into an easy monthly payment and avoid dealing with multiple creditors.

New Jersey consolidation program - Is it the right option for you?

Consolidation is definitely an effective way to pay off your bills. However, you need to analyze your situation thoroughly before you enroll in a program or take out a loan, so you know if a New Jersey consolidation program is right for you.


It is important to find the cause of your financial problems. Ask yourself: "Am I in financial trouble because of high interest rates?" or, "Is it because of my inability to manage multiple bills?" If you think you can afford the payments if interest rates are lowered or you think managing a single account may be easier, a consolidation program may be the right option for you. Check out the 8 benefits of consolidation.

New Jersey debt consolidation - What should you avoid?

When you consolidate your bills into a single payment, try to avoid the following steps:

  • New Jersey hard-money loan: When you are experiencing financial difficulties, you've already missed several payments, and hurt your credit scores. So, a hard money lender might be able to offer you a New Jersey consolidation loan. The interest rate on these types of loans can be as high as 20% or more, which will make your financial situation worse.
  • New Jersey balance transfer: There are New Jersey credit card (cc) companies that may offer low interest balance transfer cards. But the low rates last for only a few months. Once the introductory period is over, the interest rate on the card will increase. Then, you will have to switch to a different credit card. If you switch cards frequently, it shows up on your credit report and lenders will consider you a risky borrower and start to refuse your applications for new credit.

New Jersey debt settlement - Can it help you pay off your bills?

If you are having difficulty making even the minimum payments each month, consolidation is not the right option for you. In that situation, a New Jersey debt settlement program can help you by reducing the outstanding principal balance.


In a settlement program, you are required to make small payments to a New Jersey settlement company/law firm. Once you have deposited enough money into the trust account held by them, they will settle your bills with your creditors for less than what you owe. Learn more…

What are the reasons to choose New Jersey debt settlement?

Below are some of the reasons why you should go for New Jersey debt settlement:

  • You pay only a part of what you owe: One of the primary reasons why you should go for New Jersey debt settlement is that you do not have to pay off the entire balance. The outstanding balance gets reduced through settlement.
  • You don't have to deal with collection calls: Because the settlement company deals with your creditors and collection agencies (CAs), you do not have to handle their annoying collection calls.
  • Fees and charges are reduced/eliminated: The settlement company/law firm negotiates with your creditors and CAs not only to lower the outstanding principal balance, but also to have excessive fees and charges either reduced or eliminated.

If you are not sure which option to choose, you can get a free consultation with a professional debt relief company. A consultant at the company will help you choose the most suitable option to get rid of your bills.

FAQ on New Jersey debt consolidation and settlement

Q) I have about $22,000 in cc bills (6 cards with different banks). I am having difficulty making payments towards these bills because I'm injured and cannot work. I own a house free and clear in NJ. Can they take my house if I stop paying the credit card bills?
Ans: Credit card bills are unsecured bills. The card holders cannot take your house if you default on your cc bills. But they can still place a lien on your house if they get a judgment lien against you.

In order to avoid a lien, you should enroll with a New Jersey consolidation company and repay your bills with a single payment each month. If you cannot afford to get professional help, you can try a do-it-yourself consolidation plan and reduce your interest rates through negotiations. Learn more...


Q) What should I do if payday loans are illegal in NJ? I have paid a lot of money and still owe!
Ans: Since lending of payday loans are illegal in New Jersey, you only have to pay back the principal. If you have already paid this amount, you should inform the payday lender and stop paying more on the loans.


Q) I live in NJ and have 10 internet payday loans. I turned to the payday loans when I lost my job and needed money fast to meet some expenses. Now they have snowballed out of control. I have been taking out new loans to pay the interest on my bills. I currently pay $2800 in interest and am close to being 30 day late on my bills and utilities. I cannot close my checking account because I don't want my husband to know about this payday loan hell. What can I do?
Ans: Payday loans are illegal in New Jersey. If you have taken out an illegal loan, you are only obligated to repay the principal. If you have already repaid the principal, you should contact your bank and the lenders, and withdraw the lender's right to make automatic withdrawals from the account. You should only close your account if the lenders refuse to accept the withdrawal of the ACH authorization. Read more…

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