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Debt Relief New Jersey

Learn how debt affects New Jersey residents and see how some are using credit counseling to find relief.

New Jerseyans have no shortage of challenges they face when it comes to credit card debt. The average household owes almost $10,000 to credit card companies. More than 7% of credit users are more than 90 days behind with their payments. And credit utilization sits just above 27% – anything higher than 30% will decrease a consumer’s credit score. That makes it even more challenging for New Jersey residents to find solutions that provide debt relief.

The information below comes from real New Jersey residents that found debt relief with the help of Consolidated Credit. If you’re struggling to pay off debt and need help, call us at (844) 276-1544 to request a free confidential debt evaluation from a certified credit counselor.

Ready to see if you qualify for Consolidated Credit’s debt relief program? Talk to a certified credit counselor today for a free evaluation.

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New Jersey credit card debt statistics

Here’s a quick look at how debt is affecting you and your neighbors in New Jersey.

  • Average credit card debt per household: $9,454 [1]
  • Average available credit limit: $20,901 [2]
  • Credit utilization ratio (debt vs available limit): 27.33% [2]
  • Average number of cards: 3.49 [3]
  • % of accounts that are delinquent (at least 90 days past due): 7.3% [4]
  • Average credit score: 686 [3]
  • Most popular type of credit card: Travel rewards [5]

Debt relief New Jersey: See our program in action!

Case Study

John from Plainfield, NJ

“This process has been easy and a great relief. The service was excellent and gave me hope! ”

Where he started:
  • Total unsecured debt: $40,957.00
  • Estimated interest charges: $23,941.78
  • Time to payoff: 15 years, 3 months
  • Total monthly payments: $1,638.28
After DMP enrollment:
  • Average negotiated interest rate: 7.78%
  • Total interest charges: $4,938.88
  • Time to payoff: 4 years, 6 months
  • Total monthly payment: $856.00
Time Saved

10 years, 9 months

Monthly Savings

$782.28

Interest Saved

$19,002.90

Case Study

Magalys from Woodland Park, NJ

“The best thing I could have done was to make that first call and I’m glad I did. I’m almost debt free. Thank you! ”

Where she started:
  • Total unsecured debt: $24,454.00
  • Estimated interest charges: $13,786.94
  • Time to payoff: 13 years, 6 months
  • Total monthly payments: $978.16
After DMP enrollment:
  • Average negotiated interest rate: 2.70%
  • Total interest charges: $2,149.04
  • Time to payoff: 3 years, 1 month
  • Total monthly payment: $710.00
Time Saved

10 years, 5 months

Monthly Savings

$268.61

Interest Saved

$11,637.90

Case Study

Paul from Keyport, NJ

“Five stars! The program did exactly what the counselor promised and I couldn’t be happier. Consolidated Credit helped me save my credit and a lot of money in finance charges. ”

Where he started:
  • Total unsecured debt: $31,311.00
  • Estimated interest charges: $18,407.19
  • Time to payoff: 15 years, 7 months
  • Total monthly payments: $1,252.44
After DMP enrollment:
  • Average negotiated interest rate: 6.97%
  • Total interest charges: $6,075.25
  • Time to payoff: 4 years, 10 months
  • Total monthly payment: $652.00
Time Saved

10 years, 9 months

Monthly Savings

$600.44

Interest Saved

$12,331.94

We can help you identify the best debt solution for your needs. Talk to a certified credit counselor today to review your options, so you can find relief.

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Sources:
[1] https://www.valuepenguin.com/average-credit-card-debt#by-region
[2] https://www.creditsesame.com/blog/credit-cards/states-maxing-out-their-credit-cards/
[3] https://www.experian.com/blogs/ask-experian/state-of-credit/
[4] https://www.creditsesame.com/blog/debt/states-that-dont-pay-bill-on-time/
[5] https://www.nerdwallet.com/blog/credit-cards/most-popular-credit-cards-state-map-2015/