Looking for an Unsecured Personal Loan in New Jersey?
Are you tired of opening your monthly credit card bill and not seeing that number go down? It’s even worse when it goes up, especially when you didn’t make any purchases with your card in that monthly period! Those finance charges the credit card companies tack onto your principal can build up quickly, even if you are making more than the minimum payment. Don’t let them add up anymore! Through our Loan Discovery Program, we can help you consolidate that debt into one easy-to-manage account with one simple interest rate.
Have you considered consolidating your credit card debt before but no lender would work with you? Loans Now has a network of lenders who specialize in consolidation loans. Even if you were denied an unsecured personal loan previously, we can find a solution to your debt problem! Don’t let past rejections hold you back from achieving your financial goals; get started by completing the loan discovery questionnaire today! It’s fast — 60 seconds is all it takes to get the process going, and you can have options available in as little as 5 minutes!
Unsecured Loans for People with Bad or No Credit
The other lenders wouldn’t help you, so how can we? Loans Now is not a lender; we work with lenders who are willing to service that portion of the population considered to have bad credit (approximately ⅓ of all Americans). Together, we look beyond your credit score to get the entire picture, not just a snapshot that doesn’t fully represent your current situation. We find consolidation options that help you:
- Save money by not paying high monthly interest rates
- Keep track of payment due dates by having just one
- Improve your credit as you make regular payments
- Give you a longer period to repay the borrowed money
- Protect your existing score by having you check your own credit score
We do not simply take your information and pass it out to lenders. We explain to you how the process works, and we explain to our network of lenders what you need the money for, why your credit score is the way it is, and describe your current situation so that they know exactly how to help. All parties involved are interested in getting you the financial assistance you need, regardless of any past mistakes or issues on your credit report. Take the first step — fill out the questionnaire NOW!
Gambling No More
New Jersey ranks 2nd in the nation for education, with almost a 90% high school graduation rate (the national average is 83%). This is good because it has led the people of the state to earn a higher-than-average household income — $76,000 compared to $58,000. Even with a higher cost of living, New Jersey residents are typically living comfortably in their home state. The poverty rate is below average, meaning more people are working and contributing to society, and the people are typically healthier than most of the United States.
Tourism was once a big industry for New Jersey. More specifically, in Atlantic City. Once the Las Vegas of the East Coast, many of the casinos in the city have been forced to close due to a reduction in tourism. With more states allowing gambling establishments and the Internet allowing access to games of chance for money 24/7, the desire to travel to New Jersey has waned. Thousands of casino workers have found themselves without jobs because of this change in vacationing/gaming habits. If you are a casino employee who has been laid-off, know that a personal loan can help you pay your bills while you search for another position.
New Jersey Laws and Regulations for Bad Credit Personal Loans
New Jersey Statutes establishes a rate of interest of 6% as the maximum allowed on a loan in absence of a written agreement. For a loan with its terms set forth in a contract, the legal limit of interest is set at 16% (§ 31:1-1). This is classified by the state as civil usury, where the penalty for charging an interest rate higher than this limit is the forfeiture of all interest for the life of the loan. If a borrower has already paid interest in excess of the legal maximum then that amount is to be deducted from the principal amount on the loan.
New Jersey also sets a criminal usury rate. Should a lender charge more than 50% per year on a loan, then they face a 2nd degree criminal charge. It is a 3rd degree offense for charging between 30% and 50% interest on a loan (New Jersey Statutes § 2c:21-19). The penalty for charging such high interest rates can include a prison sentence from 6 months to ten years, with fines ranging from $1,000 to $150,000; this is all dependant on the level of severity defined in the statutes. These laws have been established, not only to protect the people of New Jersey, but to prevent organized crime from spreading throughout the state.
Loans Now: Core Policies & Procedures
- Never collect or share sensitive customer information: SSN, DOB, Address.
- Never collect up-front payment to process a customer’s loan application / or fund a loan. Loans Now will NEVER ask you to send us money in any form.
- Introduce customers to our Loan Discovery Process. A one-on-one loan service strategy that fits every customer’s unique needs with the right lender for them
New Jersey Personal Loan for Bad Credit Lending Regulator
The Department of Banking and Insurance is the division of the New Jersey government that regulates lending in the state. The Office of Consumer Finance is a part of this department and supervises non-depository companies by examining lenders’ practices and reports, issuing licenses, and investigating complaints against a lender operating in the state.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K