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Credit Repair In New Jersey – What You Need To Know

New Jersey Credit Repair Tips

Living in New Jersey is awesome for many reasons (the Jersey Shore, Springsteen, Jersey Fresh sweet corn and blueberries… we could go on and on), but one thing about NJ that’s not so nice is that it is awfully expensive to live here. As a result, it’s not uncommon for New Jersey residents to run into credit problems now and then. It’s all too easy to happen. The high cost of living in New Jersey stretches you thin, and then one emergency expense  gets you into credit trouble. Creditors may have you thinking you’re at their mercy, but it IS possible to repair credit in New Jersey. The New Jersey Division of Consumer Affairs offers some great tips for credit repair in New Jersey. Here’s what you need to know…



Credit Repair in New Jersey
  • You can repair your own credit. Contact your creditors when you realize you cannot make scheduled payments.  Many creditors are very willing to work with consumers who are seeking to make payments in good faith.
  • Before you pay for credit repair in New Jersey, check with your employer, credit union or housing    No-cost  credit  counseling programs are sometimes available through these avenues.

 

 

  • If you need to work with a local credit counseling service to repair credit in New Jersey, be an informed consumer. Find out if the credit counselors are certified, how much credit repair services cost, and if the agency is accredited. You can find a list of credit counseling agencies that are approved by the U.S. Bankruptcy Court, District of New Jersey. Another good place to look for a credit counseling service in New Jersey is through the Better Business Bureau.
  • Avoid New Jersey credit repair companies that make false claims that they will be able to remove negative information  from your credit report. Negative  credit  information  that is accurate cannot  be erased. Likewise, beware of New Jersey credit repair companies that promise to “hide” bad credit by helping you establish a new credit identity with a new credit file and a fake Social Security number. This is fraud. It is illegal and you can go to jail.
  • Before you  sign  a  contract for credit repair in New Jersey,  the  credit  repair company  must  inform  you, in  writing,  as to what  your legal rights are. New Jersey credit repair companies are required to provide you with a written contract  which  clearly  describes  all  of  the  terms and conditions of payment, a detailed description of credit repair services to be provided and an estimate of how long  it  will  take  to  complete  those  You have three days to cancel the contract between you and the credit repair company.





Have more questions about credit repair in New Jersey?
Contact the New Jersey Division of Consumer Affairs at 800-242-5846.

Source for Credit Repair in New Jersey information: New Jersey Division of Consumer Affairs.


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