Non-Profit Debt Consolidation in New Jersey
A blackjack dealer working in one of the casinos in Atlantic City has total credit card debt of $18,000. He missed the monthly payment and now is incurring 21% interest charges on the unpaid balance. He knows that he should consolidate his debt with a lower interest loan to reduce his overall cost and monthly payments. He also is planning to have his girlfriend move in with him in the near future. They plan to share expenses which will help both of them a great deal.
He does not want to use a debt consolidation company to help him consolidate his debt. He feels the fees they charge are too expensive and will just add more cost to his already expensive debt. He has asked about non-profit debt consolidation in New Jersey companies and whether they would be able to assist him. He really wants a solution to his debt problem at minimal cost.
Like many consumers he lives from pay check to paycheck. He has no savings nor does he have emergency savings set up for events that he cannot control. Apparently his girl friend manages her finances the same way. Both are looking for help in setting up a budget and saving some money for the future along with an emergency account. Non-profit companies can help in this area providing counseling services to their clients covering debt consolidation, budgeting and saving money.
Non-profit debt consolidation companies will assist consumers find solutions to their debt problems. They typically charge a small fee to cover their costs of counseling and also managing your debt. They look for commitment from their clients towards fixing their debt problems as well as avoiding future issues.
Many consumers will implement a debt consolidation solution and then go right back to spending money. If they spend more than their income, their debt situation will just get worse. In addition, their credit rating can take a hit if they miss payments or have too many credit cards for example. A poor credit rating will make it difficult to borrow money with interest rates that are competitive. Non-profit debt consolidation companies in the state of New Jersey can counsel clients on how to avoid these situations.
Based on the income level of this client, he should be able to qualify for a debt consolidation loan. Once his situation has been reviewed in detail a more definitive answer can be provided to him. In the mean time he should reduce the amount he owes as much as possible to minimize the total interest that he is paying. Any time he has spare cash, it should be used to reduce his debt further. With his girl friend moving in and shouldering some of the expenses, he may have extra cash that can be used to pay his credit card debt down and lower is total interest cost.
DEFAULT LOAN APPLICATION FOR BORROWER’S INFORMATION
Home/Mortgage Loan Amount :: $18,000
Home Loan Application and Processing Speed (when do you need the funds):: I really needed debt consolidation last week. I procrastinated and did not deal with this before the debt due date and now I am paying 21% interest.
Do you currently have a mortgage? :: no, I currently rent
Bank Name and Branch :: Ocean City Home Bank, Atlantic Ave
What City/Town, State and County do you live in? :: Margate, New Jersey
Zip :: 08402
What is your employment field? :: Casino Operations
Employment Position :: Dealer at a local casino
When are you paid? (monthly/weekly/biweekly):: Biweekly plus daily tips
Your credit rating to be – excellent, fair, or bad? :: fair
How did you find us? :: Looking for debt consolidation help online from non profit organizations in New Jersey
How are you paid? (direct deposit/paper check):: Direct deposit plus cash
Gross Amount Per Paycheck :: $800 plus $1000 in cash every two weeks from tips
Do you agree to have this information published online, without your PRIVATE information of course? :: sure, why not
Extra information here please (some detail):: I work as a dealer at a local casino. Fortunately the casino I work at has not closed it’s doors. The city has lost a lot of business, but our hotel and casino has remained open through the worst of it and we continue to have tourists and gamblers coming to our casino. My income varies a great deal. I am paid a basic minimum wage type of salary for the hours I work and then the rest is tips from players. Getting the right shift is really important. The last thing you want is to be on an early morning shift. Not to many people around. I have seniority so I end up working a lot of evenings when traffic is high.
The apartment I rent is just down the road from Atlantic City in Margate. It is a nice quiet community away from the tourists with nice beaches and a small town atmosphere.
Note to Lender :: I need to consolidate my credit card debt. The payments are high and I am paying a large amount of interest in the debt. I have looked at debt consolidation companies. They all seem to charge a large fee for helping to find solutions for consolidating my debt. I was wondering if a non-profit debt consolidation company in New Jersey would be a better solution?
I understand that they charge a small fee for their services and will help consumers with their debt situation as well as provide some debt counseling. I really need help with both. I got myself into this debt situation and never want it to happen again. My girlfriend and I spent too much money on our last vacation. Combined with other purchases the total credit card debt adds up to over $18,000 with interest rates around 21%. We both need help in managing our finances. We plan to live together and share expenses in the near future. Anything you can do to help us in this area would be very much appreciated. Neither of us has ever had a budget or saved money
We do not have any savings. There is no emergency fund and we just spend all of our money from each pay check. Basically we live from pay check to pay check.