The Best New Jersey Debt Consolidation Companies of 2020

Many New Jerseyans wrestle with credit card, payday, medical, student and other debt types.

The average New Jerseyan has $7,371 in personal debt, plus $239,362 of mortgage debt per capita. On average, residents have an open credit card balance of $6,490 and 61% of residents have a student loan, the average amount of which is $32,247 . Each year approximately 24,783 New Jerseyans declare bankruptcy Fortunately, there are plenty of New Jersey debt consolidation options to get you to where you need to be financially.

No matter whether you live in Newark, Jersey City, Trenton, or somewhere else in the great state of New Jersey, take charge of your financial situation and consider consolidating your debt load.

The Best Debt Consolidation Companies in New Jersey (updated 2020)

Finding a legit debt consolidation firm can be tough. We’ve done the research and picked the [n] best debt consolidation firms in the state of New Jersey. Our criteria includes online reputation, breadth of services offered, and demonstration of expertise. All have at least an A rating with the Better Business Bureau.

TheCreditBar.com, LLC

200 Centennial Avenue, Suite 200
Piscataway, NJ, 08854
(888) 322-3302
http://www.thecreditbar.com

Rating: 8.94/10

Kredit Koncepts Fi-cial Services LLC

622 Bloomfield Ave Suite 205-B
Bloomfield, NJ, 07003
(800) 985-9367
http://www.kreditkoncepts.com

Rating: 9.05/10

Increase Your Credit Score, LLC

11 Andover Dr
Caldwell, NJ, 07006-4222
(973) 228-7599
http://www.increaseyourcreditscore.org

Rating: 9.16/10

Grimley Fi-cial Corporation

1415 Marlton Pike E Ste LL5 Ste LL-5
Cherry Hill, NJ, 08034-2229
(800) 673-1414
http://www.grimleyfc.com

Rating: 9.27/10

Clarifi

1 Cherry Hl Ste 215
Cherry Hill, NJ, 08002-2101
(800) 989-2227
http://www.clarifi.org

Rating: 9.39/10

3 J’s Consolidated, LLC

106 Trimnell Ave
Franklinville, NJ, 08322
(865) 383-0541

Rating: 9.5/10

New Jersey Debt Statistics

Total Debt$65,874,095
Debt Per Capita$7,371
Debt Per Capita Rank5

Source: World Population Review

New Jersey Credit Card Debt Statistics

Average Credit Card Balance701
Average Credit Score$6,490
Avg Credit Card Balance Rank (1 = Highest Balance)12
Avg Credit Score Rank (1=Highest Score)3

Source: Experian

Mortgage Debt in New Jersey

Mortgage Debt Per Capita$239,362
Avg 30 yr Mortgage Rate3.86%
Avg 15 yr Mortgage Rate3.35%
Median Home Value$329,000
Avg Outstanding Mortgage Debt$239,289
Difference Between Value and Mortgage Debt$89,711
Avg Homeowner FICO Score714

Source: Federal Reserve, Value Penguin, Experian

Payday Loan Debt in New Jersey

Payday Loan Legal StatusLegal
Max Payday Loan Amountnan
Max Payday Loan Termnan
Max Payday Loan APRnan

Source: New Jersey Government Website

Unemployment and the Economy of New Jersey

Poverty Rate – Population10.70%
Poverty Rate – Population – Rank47
Poverty Rate – Family8.10%
Poverty Rate – Family – Rank42
Unemployment Rate (March 2020)3.8
Unemployment Rank25
GDP Growth1.8
GDP Growth Rank21

Source: US Census, Bureau of Labor Statistics

Student Loan Debt in New Jersey

Percent of Population with Student Loans61%
Average Student Loan debt$32,247
Average Debt of New Graduates (2017-18)$34,387
Average Debt Ranknan
Percent of Graduates with Debt (2017-18)64%
Percent with Debt Ranknan
Usable Institutions (BA-Granting)19
Percent of Graduates at Schools with Usable Data83%
Nonfederal debt of graduates, as percent of total debt29%
Fall enrollment – Undergraduate total (IPEDS)371,214
Tuition and Fees (in-district/in-state)$14,731
Total Cost of Attendance (on-campus)$38,382
Percent of Institutional Grants that are Need-Based61%

Source: Value Penguin, TICAS

Cost of Living in New Jersey

Annual Mean Wage (All Occupations)$58,210
Median Monthly Rent$2,062
Value of a Dollar$0.88
Cost of Living125.1
Cost of Living Rank42
Grocery Cost Index109.5
Housing Cost Index163.1
Utilities Cost Index101.6
Transportation Cost Index111.1
Miscellaneous Cost Index101.7

Source: World Population Review

Scroll to Top