New Jersey Personal Loan for Bad Credit Laws and Regulations in (NJ)

(last updated 01/13/2016)


Legal Maximum Rate of Interest
6.00% or up to 16.00% for contracts (31:1 -1); loans in excess of 30% or 50% in limited liability to corporations are not allowed (2C:21-19)

Exceptions
Loan of over $50,000; savings and loans; banks; Department of Housing and Urban Affairs and other organizations authorized by the Emergency Home Finance Act of 1970. See more below.
 
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in New Jersey, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the New Jersey Department of Banking and Insurance.
 
The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the state of New Jersey. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.


New Jersey Personal Loan for Bad Credit Lending Regulator (NJ)

Regulating Authority
New Jersey Department of Banking and Insurance
20 West State Street
PO Box 325
Trenton, NJ 08625
1-800-446-7467
www.state.nj.us/dobi/index.html

Agency for Handling Complaints
New Jersey Department of Banking and Insurance
Consumer Inquiry and Response Center (“CIRC”)
PO Box 471
Trenton , NJ 08625-0471
(609) 292-7272
www.state.nj.us/dobi/consumer.htm

 

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Related New Jersey Loan Programs

Personal Loans in NJ
$1,000 to $35,000 - Credit Score 650+
 
Small Business Loans in NJ
For Bad to Excellent Credit. Flexible Terms.

Flag of the State of New Jersey Times are tough all over, and that means in Jersey, too. What can you do if your account is overdrawn in Orange, or your credit is shot in Shrewsbury, and a big expense pops up? An installment loan could solve your problems. However, finding an installment loan with bad credit can be like trying to find an open patch of beach on the Jersey Shore during summer- hard.

Heavy rains can cause flooding in Paterson – and now that your basement is filled with water, you’ll need to dry that out and deal with the mold. Calling someone in to do that won’t be cheap, and your homeowners insurance doesn’t cover flooding, so it’s all on you.

Sure, you know that eating pizza while you were driving down the parkway to Tom’s River was a bad idea. Now you’ve been in an accident and there’s no way you can come up with the $1,000 deductible to get your car fixed. You have to have your car to make it to work! Why do these things always seem to happen when you’re more down on your luck than someone on a losing streak in Atlantic City?

Of course, there are always household expenses like: your hot water heater rusts out in Hackensack, the fridge dies in Fairfield, or the roof starts leaking in Lyndhurst. These are things you can’t go without – but where will you get the money to repair them? Being a homeowner is expensive – and it sure would be nice to have somewhere you could turn for an installment loan – even with your bad credit record. Where can you go for help?

When the proverbial spaghetti hits the proverbial fan, things can get pretty messy in a hurry. A personal loan can help you mop things up, but if you have bad credit, you may struggle to find one. How can a person find the right loan for bad credit?

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New Jersey Personal Loans for Bad Credit (NJ) by City

New Jersey Financial Counseling Information

If you feel that you may benefit from the services of a financial counselor, The Consumer Credit Counseling Service of New Jersey, Inc. can be located at 185 Ridgedale Avenue Cedar Knolls, NJ 07927 or by calling 1-888-726-3260 services are not specified.