Debt Consolidation Loan Lenders in New Jersey

New Jersey is the 6th most expensive state in the USA for living and studying. The cost of living is 13 %, and Housing is 11 % higher than the National average of the USA. This state is very costly because rental prices, transportation, healthcare, taxes, and housing prices are very high due to New York City.

According to the 2022 reports, an average household in New Jersey owes $ 9,468 in credit card loans, $ 35,011 in student loans, $ 4,820 in Auto loans, etc. So, people take one new loan to consolidate all old loans and pay one installment instead of multiple installments. 

Debt consolidation loan lenders in New Jersey consolidate other loans such as Personal loans, Credit card loans, Auto loans, Mortgage loans, etc. into one single loan, and apply new interest rates that are lower than the high-interest rates, new APR rates, and new deadline to repay the loan to the company. 

Best Debt Consolidation Loan Lenders in New Jersey

Loan lenders can be banks, companies, credit unions, private or public institutions, etc., and provide debt consolidation loans as secured or unsecured loans. Secured loans are considered collateral, so interest rates are low while Unsecured loans do not take the collateral and take high interest rates on debts.

We have shared the top 20 best debt consolidation loan lenders in New Jersey, and you can choose a consolidation loan from one of them according to your needs.

You can also read:

Debt Consolidation Loan Lenders in Colorado

Debt Consolidation Loan Lenders in Maryland

Debt Consolidation Loan Lenders in Tennessee

Debt Consolidation Loan Lenders in Pennsylvania

Debt Consolidation Loan Lenders in Massachusetts

1. Ark Mortgage

Founded in 1983, Ark Mortgage was established in Montebello, New York, and provides full services in New Jersey, Pennsylvania, Connecticut, Florida, and Arizona via its online website or branch offices. This company has one branch office in Lakewood, New Jersey, and provides Debt consolidation, New home purchases, Refinancing, and Property investment loans.

It is one of the best debt consolidation loan lenders in New Jersey that provides up to $ 1,00,000 loan amount for up to 30 years of term time. Interest rates are up to 20 %, depending on your debt consolidation loan plan. If you have a 700 or above credit card score with a good APR rate then you can easily apply for a consolidation loan through its website or branch.  

Website: www.arkmortgage.com

Branch – Headquarters: Lakewood, New Jersey

Contact: 732-415-4150

2. UCCU

United Cities Credit Union (UCCU) was founded in Newark, New Jersey, in 1935. It is one of the oldest debt consolidation loan lenders in New Jersey that provides Signature, Debt consolidation, Vacation, Mortgage, Business, Secured savings, and Auto loans. It was formally known as the Newark Board of Education Employees Credit Union which deals in small loans.

By combining multiple debts into a consolidation loan, you can decrease your high interest rate to a lower interest rate. The consolidation loan amount is up to $ 15,000, and 3 to 5 years of term time. So, you can choose term time and pay small monthly installments at the end of each month. Flexible credit card scores or APR rates are required for debt consolidation loans. 

Website: www.uc-cu.org

Headquarters: Newark, New Jersey

Contact: 973-375-9182

3. Credible

Credible company was founded by an Australian entrepreneur Stephen Dash, in San Francisco, California, in 2012. He is the current CEO of this company that provides Debt consolidation, Personal, Business, Mortgage, Home improvement, Student, and Refinancing loans in some states in the USA through its online website. 

Also, it is one of the best online debt consolidation loan lenders in New Jersey that provides $ 600 to $ 2,00,000 loan amounts at a lower interest rate for up to 5 to 7 years of term time if you have a 700 to 749 credit card score and a 6.49 % to 9.99 % APR rate. If you have a 750+ credit card score then you can get an extra discount on interest rates. 

Website: www.credible.com

Headquarters: San Francisco, California

Contact: 415-570-9488

4. TAM Lending Center Inc.

Today’s America Mortgage (TAM) Lending Center Inc. is a loan lending company that has 50 years of experience, and TAM was established in Audubon, New Jersey. This mortgage company also provides services in Pennsylvania, Florida, and Delaware. This company provides Jumbo loans, Mortgage loans, Student loans, Refinance loans, and Debt consolidation loans. 

Your minimum credit card score is 680 with a low APR rate for consolidation loans. If you have a good or excellent credit card score then 80 % interest rates are reduced by the company. The loan amount and term time will depend on your old total debt amount. This company does not charge any prepayment, extra fees, or orientation fees from any customer.  

Website: www.tamlending.com

Headquarters: Audubon, New Jersey

Contact: 856-795-5900 

5. Achieve 

Since 2002, Achieve has been providing Debt consolidation loans, Personal loans, Mortgage loans, Student loans, etc. through its online website. This company deals in small amounts of loans. Achieve headquarters is in San Mateo, California. If your credit card history is good then the loan amount will be credited within 24 hours or the next day.  

Achieve provides a $ 5,000 to $ 50,000 loan amount at a lower interest rate for 24 to 60 months of term time. Your credit card is up to 620 or above with a 6.99 % to 12.99 % APR rate. A debt consolidation loan is a secured loan so the company takes collateral as a security, and does not charge a prepayment fee, application fee, or hidden charges. 

Website: www.achieve.com

Headquarters: San Mateo, California

Contact: 800-920-0045

6. Valley Bank

Founded in 1927, Valley Bank is the most trusted bank in the industry that provides all types of loans at affordable interest rates and a good or fair credit card. Its headquarters is located in Wayne, New Jersey, and has 232 offices in New Jersey counties or other states such as New York City, Alabama, and Florida.

This bank provides a minimum of $ 5,000 or a maximum of $ 1,00,000 loan amount at a fixed lower interest rate. You should have a good credit card score for a debt consolidation loan. You can easily manage your multiple monthly payments by converting them into one single payment. This bank does not charge any prepayment plenty fees, and extra charges. 

Website: www.valley.com

Headquarters: Wayne, New Jersey

Contact: 800-522-4100

7. InCharge Debt Solutions

Established in 1997, InCharge Debt Solutions’ headquarters is located in Orlando, Florida. It is a non-profit company and provides services through its online website. It offers debt consolidation loans at lower interest rates, reduces your monthly multiple payments into one, and also reduces your high-interest rate by up to 50 %.

This company offers $ 1000 to $ 1,00,000 amount for 3 to 5 years of term time. The interest rate will depend on the consolidation loan plan and go up to 20 % if you borrow a high amount for five years. You should have a good credit card score with a good APR rate but if you have a bad credit card score then the company takes a high interest rate on the consolidation loan.

Website: www.incharge.org

Headquarters: Orlando, Florida

Contact: 866-721-3925

8. Affinity FCU

In 1935, Affinity Federal Credit Union was founded in Basking Ridge, New Jersey. This FCU is a not-for-profit organization and has 20 branches in New York, New Jersey, Pennsylvania, and Connecticut. Also, It is one of the oldest debt consolidation loan lenders in New Jersey that provides other loans and consolidates them into one loan.   

You can borrow debt consolidation loans up to $ 1,00,000 at a lower interest rate, and Affinity offers new APR up to 13.75 %. This loan is valid for up to 10 years if you borrow a large amount in this loan. If you do not repay the loan after term time then this credit union can consider late fees according to their loan policy. 

Website: www.affinityfcu.com

Headquarters: Basking Ridge, New Jersey

Contact: 800-325-0808

9. PenFed Credit Union

Pentagon Federal Credit Union (PenFed) was established in 1935, in McLean, Virginia. It is the 2nd largest credit union and provides its services to all 50 states in the USA. It offers Jumbo loans, Debt consolidation loans, Refinancing and Home improvement loans, VA and FHA loans through its online website. 

You should have an excellent credit card score and a minimum 7.99 % APR rate for a debt consolidation loan. This union offers a $ 600 to $ 50,000 loan for 72 months of term time. This credit union is the most trusted union that has served services to 2.9 million people till now. It is a not-for-profit union that does not charge any prepayment or extra fees from the customers. 

Website: www.penfed.org

Headquarters: McLean, Virginia

Contact: 541-225-6801

10. Alliant Credit Union

Alliant Credit Union is the largest credit union in Chicago, Illinois. This credit union has more than 85 years of experience and also has 8,00,000+ members nationwide. Alliant Credit Union does not have any branches but provides services through its online website in New Jersey, Connecticut, Indiana, Ohio, New York, Pennsylvania, etc.

A debt consolidation loan considers a minimum 600 or above credit card score,  a low APR rate, a low interest rate, and 12 to 21 months of term time. Approximately, $ 50,000 loan amount is considered in a consolidation loan, this amount can be increased or decreased according to your existing debt amount. This union does not charge prepayment but if you fail to repay then late fees will be applied.   

Website: www.alliantcreditunion.org

Headquarters: Chicago, Illinois

Contact: 800-328-1935

11. New Era

New Era Debt Solutions is a debt settlement company that was established in 1999, in Camarillo, California. This company provides good or bad debt consolidation loans according to your credit card history and offers Debt consolidation loans, Debt settlement loans, Debt reduction loans, Debt Negotiation, Credit card loans, Signature loans, Bad credit card loans, etc. 

If you have a 675 to 750 credit card score then you can qualify for a good consolidation loan in which at least 6 % interest rates are considered for 2 to 5 years of term time, but if you have a bad credit card score, up to 36 % interest rates are charged for 2 to 5 years of term time, and can participate in a consolidation program. 

Website: www.neweradebtsolutions.com

Headquarters: Camarillo, California

Contact: 866-540-6289 

12. XCEL-FCU

XCEL-FCU was founded by Port Authority of NY/NJ employees in 1964. This Federal Credit Union serves their services individuals, families, and businesses in New Jersey, New York, and around the country. This FCU headquarters is in Bloomfield Township, Essex County, New Jersey. XCEL serves more than 18,000 members across New Jersey and New York.

XCEL-FCU turns multiple high-interest-rate payments into one single lower-interest-rate payment. Your minimum credit card score is 700, and you can borrow a $ 1000 to $ 40,000 loan amount as a debt at a lower interest rate for terms up to 84 months. If you have your own house then a Home equity loan is the best option, but if not then a debt consolidation loan is the best option.

Website: www.xcelfcu.org

Headquarters: Bloomfield Township, New Jersey

Contact: 973-275-9235

13. Consolidated Credit

Consolidated Credit company was established in Lauderdale, Florida, in 1993, and provides loan services through its online website across the state. Gary S. Herman is the president of this company. This company offers Debt consolidation loans, Debt relief, Housing Counseling, and Personal finance services. 

This company offers a $ 10,000 to $ 75,000 loan amount at a lower interest rate for terms of 2 to 3 years. Your minimum credit card is 686 with a good APR rate. After this loan, the new APR is considered which goes up to 27.33 % according to the consolidation loan amount. You should have a $ 20,901 credit card available limit for a debt consolidation loan.  

Website: www.consolidatedcredit.org

Headquarters: Lauderdale, Florida

Contact: 844-326-7539

14. Rocket Loans

Rocket Loans is a branch of Rocket Companies, and it is a Detroit-based fintech company. This company was founded by Dan Gilbert as an online personal loan company in 2016, in Detroit, Michigan. Rocket Loans has become America’s largest mortgage lender company that provides Mortgage loans, Debt consolidation loans, Personal loans, Auto loans, etc. 

Rocket Loan’s debt consolidation loan amount depends on your existing total amount. Debt consolidation loans are available at a lower interest rate, for 36 to 60 months of term time, ARP range between 6.99 % to 29.99 %. This company charges orientation fees up to 6.95 % of the loan amount. If you do not repay the amount or loan, each month you have to pay late fees. 

Website: www.rocketloans.com

Headquarters: Detroit, Michigan

Contact: 800-333-7625

15. OneMain Financial

OneMain Financial has 1400 branches in 44 states in the USA. In New Jersey, this company has 28 branches in Bordentown, Brooklawn, Cape May Court House, Cherry Hill, Freehold, Cinnaminson, Linden, etc. This company has Debt consolidation loans, Vacation loans, Home improvement loans, Vehicle, and Auto loans, etc.  

You can apply for a debt consolidation loan through its 28 branches or an online website that transfers your old debt into a new loan. This company does not charge prepayment plenty, and up to $ 20,000 loan amount is approved at a lower interest rate for 24 to 48 months of term time. You can expand your term time but your interest rate also be increased according to time. 

Website: www.onemainfinancial.com

Headquarters: Evansville, Indiana

Contact: 800-290-7002

16. North Jersey FCU

Established in 1936, North Jersey FCU is a member-owned and not-for-profit financial cooperative organization. This FCU has 5000+ shared branches nationwide and has 30,000 ATMs. It is one of the oldest debt consolidation loan lenders in New Jersey that offers a low amount of unsecured debt. This FCU considers consolidation loans as unsecured personal loans. 

The APR rate is as low as 11.99 % but it can be changed according to term time. You can borrow up to $ 15,000 loan at a lower interest rate for 12 to 60 months of term time. Also, no collateral is needed for this loan but you should have a fair credit card score. This FCU charges a 0.25 % deduction for every loan. 

Website: www.njfcu.org

Headquarters: Totowa, New Jersey

Contact: 973-785-9200

17. Spencer Savings Bank

Spencer Savings Bank was established in Elmwood Park, New Jersey, in 1893. It is a mutually owned and operated, full-service, community bank, and operates 27 Financial Centers surrounding or across New Jersey. This bank has $ 4 billion and has 300+ employees who help customers. 

Jose B. Guerrero is the Chairman and CEO of this bank. Multiple credit card loan balances are transferred into one single loan at a 0 % interest rate. A debt consolidation loan reduces high-interest rates to lower interest rates, multiple payments into one payment, no prepayment plenty, and covers all existing loans. Term time depends on your loan amount, but you should have a credit card score and APR rate. 

Website: www.spencersavings.com

Headquarters: Elmwood Park, New Jersey

Contact: 800-363-8115

18. Mariner Finance

Mariner Finance is a Baltimore-based company and its headquarters is in Maryland. This company has 3 branches in New Jersey such as Vineland, Turnersville, and Marlton. This company is available in New York, Arizona, Pennsylvania, Virginia, Florida, Tennessee, Mississippi, etc., and was established in 1927.

You can borrow a minimum of $ 1,000 to a maximum of $ 25,000 loan amount at lower interest rate. You should have an 850+ credit card score with a good APR rate for a debt consolidation loan. This loan estimates your existing debt amount, after that interest rate, new APR rate, and term time are considered. Also, this company does not charge any hidden or extra fees. 

Website: www.marinerfinance.com

Branch – Headquarters: Vineland, New Jersey

Contact: 856-896-0742

19. Absolute Home Mortgage Corporation

Founded in 1998, Absolute Home Mortgage Corporation’s headquarters is in Fairfield, New Jersey. This corporation has other branches in Hackettstown, Summit, Cherry Hill, Holmdel, Merchantville, Elizabeth, Marlton, etc., and offers FHA and VA loans, Vacation loans, Debt consolidation loans, Mortgage loans, Real estate investment loans, USDA and Mortgage loans, etc. 

$ 10,000 to $ 98,000 loan amount at lower interest rate for 2 to 5 years of term time if you have a good credit card score or APR rate. This loan covers all debts into one and after that, you have to pay a single monthly installment at the end of each month. The interest rate is tax deductible, and it is a refinancing loan that does not charge late fees. 

Website: www.ahmcloans.com

Headquarters: Fairfield, New Jersey

Contact: 866-889-2227

20. Truist Bank

Established in 2019, Truist Bank is a merger of Branch Banking and SunTrust Banks. This bank’s headquarters is in Charlotte, North Carolina, and provides Debt consolidation loans, Personal loans, Mortgage loans, etc. through 2781 branches or its online website. This bank is available in Connecticut, DC, New Jersey, Pennsylvania, and Maryland.

It is the best debt consolidation loan lender in New Jersey that offers a $ 3,500 to $ 50,000 loan amount for 6 to 60 months of repayment term time with an 8.14 % to 18.99 % APR rate, no minimum credit card requirement, no prepayment, no hidden charges, and application fees.

Website: www.truist.com

Headquarters: Charlotte, North Carolina

Contact: 844-487-8478 

Conclusion

As 6th expensive state in the USA, New Jersey people take multiple loans such as Student, Auto, Business, Personal, and Mortgage loans but they fail to repay the loan to the company or loan lender. So, consolidating the existing loans into one is the best option to repay all loans. This loan helps to overcome the existing high-interest rate to lower interest rate that reduces monthly high installments.