“Broke on the Boardwalk…”
Dennis from Newark, NJ required debt relief for $40000 dollars and he needed it fast. He lives in New Jersey and was raised there. He needs a debt settlement solution because he was unemployed at the time of his submission to DebtFiles.com.
Below is his information that he provided with our online form. He gave full permission to use this as long as we were careful not to give away his exact identity. He is looking for a new job and doesn’t want this to possible effect his job search.
Editor Notes: Debt Settlement Relief in Newark NJ
This case file for debt is from Dennis who lives in Newark, New Jersey. He is requesting that relief for $40,000 and he doesn’t have a job right now which is making it impossible for him to services that in anyway shape or form. He told us that he found our website on Bing and he said it was OK if we published his request for debt relief or settlement.
He is considering a debt settlement but he is concerned about the ramifications of all that. He is never claimed bankruptcy yet but he is close to believing that that is what he might have to do. He is just plain frightened right now and doesn’t really have anywhere to turn.
We are going to do our best to help them out. Presently, he is being called and contacted by collection agencies on a daily basis. He had his vehicle repossessed months ago and this has caused his credit rating to tank.
His Credit Scores and Rating History
Right now his credit rating is really low with TransUnion at 488. His Equifax credit rating is 475 and his Experian credit rating is at 435. These are very low credit scores and they are hard to come out of because you weren’t going to get any more credit from a bank or even a private lender for that matter. He is 28 years old and Dennis is a dockworker in new work New Jersey.
He is alone with his troubles and he is reaching out to us for some help. Below is how his credit card balances or at the time of this writing. Visa: $4281 MasterCard: $7930 American Express: $1293 When Dennis first got into debt it was because of gambling. He admits that he would go to Atlantic City on the weekends with his friends and party.
During the partying he started gambling as well which put a strain on his credit cards. He now has four credit card balances and he can’t make the minimum payments on any of them because of his unemployment. So with all of his credit card debt he ended up getting a consolidation loan because he had a good credit rating of the time.
His Consolidation Loan for $30000
He got a consolidation loan for $30,000 and now his balance on this consolidation loan is $22,000 as it sits. Now Dennis is not eligible to get another consolidation loan with any bank because his credit ratings are so low. With great ratings that low you will not get a loan from a bank and particularly when you are unemployed. At this stage of the game some form of debt relief is his only way out. The reason his credit rating is so poor now is because he was making payments on his credit cards or his car loan. This is why his credit scores are in the 400s.
His Local NJ Bank
Dennis has his bank accounts at the Wells Fargo Bank located at 5:50 Broad Street in new work New Jersey. He said his accounts with them since he was 17 years old and had his first job in a restaurant. He is actively looking for employment again and quite desperate about it. Even though he feels such huge pressure to get a job again to get the cash flowing through each month he is having trouble getting the courage and the gumption to get going and face perspective employers.
Being an experienced forklift driver should be in his favor because he should be able to get a job with somebody and I just have to be on the dock. Forklift drivers are required in many different places of business so he should land on his feet eventually. But in the meantime he’s going to need some help in the form of debt relief. In his case he will have to negotiate some form of payment with his creditors for pennies on the dollar.
At this point with his credit rating being so bad it doesn’t really matter if he does this. As a matter fact this is probably his best option first we have to look at all the details. He will have to pull up his bootstraps and focus on getting employed again, and he will have to stop the drinking and the gambling altogether. He needs a lifestyle change no question about it.
“Goin’ down in Atlantic City..”
Debt Settlement Relief for $40000 – Submission
How Did You Find Us: Bing
May We Publish Your Story? (we PROTECT YOUR PRIVACY!): Yes
What Debt Service Are You Considering?: Debt Settlement
Ever Claimed Bankruptcy?: No
If Yes, What Type?: None of the Above
Have Collection Agencies Contacted You?: Yes
Any Repossessions?: Yes
First Name and Initial: Dennis H.
Visa Card Debt?: $4281
MasterCard Debt?: $7930
Amex Card Debt?: $1293
Other Credit Card Debt?: $585
Personal Bank Loans?: Consolidation loan for $22000 – this is the only personal loans that I have with my bank.
Vehicle Loan(s)?: Not anymore because my car was repossessed three months ago.
Student Loan Debt?: None
Other Debts?: I owe my sister $2000 and I have phone bill debts of $300 for my landline and or $600 for myself phone with Verizon.
Mo. Payment You Can Afford?: $230 a month
City/Town/Area: Newark, NJ
State: New Jersey
Credit Score(s): 435 with Experian 475 with Equifax and 488 with TransUnion
Main Bank (won’t contact): Wells Fargo Bank at 550 Broad Street
Income Sources (explain all): I have been a dockworker driving a forklift on the New Jersey docks for the last five years.
“Every job they offer is to keep me off the docks…”
– The Clash (Career Opportunities)
Work History for Dennis – $40000 Debt Relief
I have had various different jobs in New Jersey because I grew up here. My first work experience was cooking pizza and delivering pizza. I did have an odd little job washing dishes before that though when I was 16 years old.
After that my dad got me a job down on the docs and that paid the best I’ve had yet. So really the only serious work experience I have is being a dockworker and I learned how to drive a forklift which is sort of my specialty. The problem is that they did some layoffs recently and I don’t have a job anymore so my income has dropped to zero.
I have been looking around for some more appointment but it isn’t going well because I am little bit fussy it appears. I really need some help because I am scared that I will be getting myself close to a bankruptcy. I recently had my small car repossessed because I was making the payments on them anymore. Unfortunately I was being stupid and gambling in Atlantic City. This is one of the biggest problems I think I have had.
Main Reason for Debt Settlement – $40000 Debt Relief
The main reason for my debt would be because of my stupid gambling but also obviously losing my job put an end to any hope of paying off my credit card. I have substantial credit card for somebody who is not making any money right now.
I am getting calls and collections people on my case all the time as they try to get me to pay them some money. I am thinking about going back to school if I can get a student loan but unfortunately with my credit rating being so lousy I don’t know if anybody will approve me these days. I haven’t looked into this kind of a loan. I really think the answer is for me to get some kind of debt relief in the meantime well I get myself a new job.
Second Reasons for Debt Relief Settlement
Besides the gambling and the loss of job which of the main reasons for me being in debt and getting such a poor credit rating there is the other problem and that is with drinking. I realize now that I have a bit of a drinking problem in that I lose control of my faculties and just spend money stupidly soon as I feel the effects of the alcohol.
So I have a lot of knocks against me and I don’t really have any place to go to get help because of my credit rating. I have a $22,000 consolidation loan still ongoing and I have not made the payments on that either. It feels like I’m sinking fast and I suppose that is because I am. I know I have made a lot of stupid mistakes my lifestyle is hurting me financially.
I just want to assure everybody here that I plan to get my act together and I’m going to sort this out one way or the other.
Extra On New Jersey Debt Relief – $40,000 Settlement
All of this has caused me a great deal of stress and I am constantly reminded it seems every minute of every day that I don’t have any money coming in and everybody wants me to pay the money. I’m really hoping that you can help me with a debt relief solution ASAP.
I feel I have completely run out of options at this point and I don’t seem to even have the self-esteem to get fired up to do job applications. It took me two weeks just to get my resume together if that gives you any idea on what my mind state is. My parents can’t help me because my mother has passed away from cancer two years ago and my father is broke as well.
He has claimed Chapter 11 bankruptcy so he is out of the picture as far as financial help goes. Like I said I own my sister $2000 and she says that she doesn’t care if I pay her back. But I don’t care I want to Pay her back as soon as I can.
Soon as I am able I want to pay back all of my creditors fully. I have considered a debt settlement because my credit rating is already shot but I still think I have a responsibility to pay them all back what I owe. I realize now that it doesn’t look good for me and I am going to have to get some serious help quickly and I am really hoping that your team will help me get through this rough patch in my life. I find it overwhelming and I really need some help.
Please contact me as soon as you can with the contact information I provided. It would probably be better if you used email because that I will always get it. Thank you again for your great service and I am amazed at what you have done for other people. My brother-in-law Michael who also lives in new work New Jersey use your service and it helped him get out of a bad bind with his creditors. And only two years he managed to get himself back on his feet and he is rebuilding his credit rating know.
“Cliché debt sign…Debt Relief Ahead”
Conclusion for Debt Relief Settlement
Dennis is now on track because found him a debt settlement plan that is very reasonable. The stress has started to go away now and he is in a much better place. He ended up finding a new job working for Home Depot soon after we had his financial situation all sorted out.
Unfortunately it’s too bad that Dennis had not moved to take action earlier before he got himself into financial trouble. He should have made a budget, stopped partying so much and quit gambling – he should have done this when he had the first debt consolidation loan.
In the end his credit was damaged but now he has a new plan and budget. He is now rebuilding his credit scores with the three main credit tracking agencies (as mentioned above).
Update for NJ Debt Relief and Dennis
Just wanted to update that Dennis recently got himself a new income stream with some self-employment. He started building his own sheds and now he has a good little business that makes more money than his forklift operating jobs ever did.
We just want to add this update and congratulate Dennis on his hard work and perseverance through this difficult time. So often we never hear back from her clients and it’s great to know that some people are actually managing to finally come out the other end OK and with their finances in a strong position going forward.
If money is a problem there is a sure solution – and that is to earn more money. I know that sounds simple but really if you put your mind to it you can find a way to earn yourself more money. You also need to keep track of how much you spend, but at least when you’re earning more money you can pay down your debt and you can get that DEBT PROBLEM part of your life behind you.
When you earn more money you can have less stress, no debt, and a more positive outlook on your future. We’re not saying that money is the cure for unhappiness – but it surely helps.
If you can find a way to make money with an activity you enjoy then you’ve really won the lottery.
So that wrap things up from New Jersey and we hope to hear back from Dennis in the future. Really glad to see that somebody manage to get themselves back on their feet in a big way.
Tomorrow we are heading out to Ohio to see if we can help another client get themselves back on track with a non-profit debt relief solution.
Below we have our image collage for Dennis and this post.