Debt Relief New Jersey

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

New Jersey residents face many challenges when it comes to credit card debt. According to government data crunched by WalletHub, the average household owes almost $12,590 in credit card debt.

Garden State residents collectively owe credit card companies $39,480,586,042, a $1,001,846,845 jump from the first quarter of the year.

Over 7% of credit users are over 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 who found debt relief with the help of Consolidated Credit. If you’re struggling to pay off debt and need help, call us at (844) 402-3711 to request a free confidential debt evaluation from a certified credit counselor.

How Much Could You Save?

Just tell us how much you owe, in total, and we’ll estimate your new consolidated monthly payment.

Debt Amount

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

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: $9,112
Average available credit limit: $37,845
Average credit score: 714
Average number of cards: 3.49

This chart shows a breakdown of average consumer debt in New Jersey, based on the latest report of Household Debt report from the Federal Reserve.

2023 household debt in New Jersey from Fed Reserve

Debt relief New Jersey: See our program in action!

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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