Get the New Jersey Debt Relief you need
Living in debt is a difficult proposition. How do you make ends meet when you have that cloud hanging over you? How can you ever expect to live a normal, comfortable life when you owe more than you can pay? Here’s what you need to know about New Jersey debt relief.
When it comes to debt, New Jersey unfortunately has some of the highest in the nation. Ranking 6th overall, the average debt amount is $5,484, a full 10% higher than the national average of $4,965.
The good news is, New Jersey residents know how to handle that debt well. The average credit score is 708, which is fairly good, as compared to 696 for the nation. And the rate of delinquency is slightly lower than the national average, with just 0.56% of people late with payments by more than 90 days (0.57% for the nation as a whole). The number of people living in poverty is lower than average as well. In the nation, the poverty rate is 12.7%, while in New Jersey it’s 10.4%.
The statute of limitations for debt in New Jersey is six years for property recovery or contracts not under seal. For demand notes, it’s six years from the time a demand is made, or ten years total if no demand is made. For judgments, whether in New Jersey or someone else, the statute is 20 years. It’s also 20 years for real estate matters.
The thing about debt is, it’s different in every state. Not just the statutes, but the laws in general, and your rights under them. And of course, your personal situation is different from those around you as well. You can’t just get a cookie cutter solution and expect it to work. You need someone who understands the laws in New Jersey and your options under it, and can provide you with the help you need.
Americor’s debt experts understand the laws in New Jersey inside and out. We know how to negotiate on your behalf and make sure that you get your rights. And we know how to handle creditors who want to take advantage of your vulnerable position. Call our experts today for a consultation, and we’ll help you figure out how to live debt free.