NJ Character/Fitness & Big Debt

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Outcome

You'll have to go in front of the C&F Board
1
25%
No problem since you're current on all accounts
3
75%
You may be delayed during an investigation
0
No votes
 
Total votes: 4

Njguy13
Posts: 2
Joined: Wed Oct 23, 2013 8:09 pm

NJ Character/Fitness & Big Debt

Postby Njguy13 » Wed Oct 23, 2013 8:10 pm

I just took the NJ Bar Exam in July. I've been reading horror stories about C&F issues. So currently I am in the midst of one of the freak outs that everyone must go through. Here's my story:


I don't have any blemishes on my record as in criminal issues or any cheating, write-ups, or any negative hits in my past. But I do have A LOT of student debt. I have just under $400,000 in student debt from undergrad, law school and a bar study loan. Problem was I grew up in section 8 housing and worked my way out. My parents couldn't provide any help for my secondary schooling. So I had to take out loans. I have never been in default or to collections with any of my debt. I have about $10,000 in credit card debt and a $11,500 auto loan. Again, I have never had any bad debts or any negative hits (besides the large balance) on my credit report. I am currently making all my payments on time and never had an issue. My current credit score is in the mid 600's. I am currently in a law job as a paralegal and I already have an offer at this firm when I get clearance.

What are everyone's thoughts? Do you think The NJ committee on C&F will want a hearing? Do you think that this will be an issue? How long does the process take after you pass if there is no hearing? How long if there is a hearing? Should I suck it up and stop worrying?

Thanks in advance for everyone's posts.

User avatar
thesealocust
Posts: 8447
Joined: Mon Oct 20, 2008 8:50 pm

Re: NJ Character/Fitness & Big Debt

Postby thesealocust » Thu Oct 24, 2013 1:20 pm

There is a 0% chance you will have a problem. C&F does not ding people simply for being in debt. The isolated cases where it is an issue involve aggressive avoidance of debt/obligations.




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