Many of the people who come to our law firm have problems repaying their student loans.
Student loans have become the biggest financial crisis in our country. There’s about one trillion dollars of student loan debt across our country that’s weighing heavily on individuals finances. Unfortunately, bankruptcy is not a great option to help reduce or eliminate student loans currently. Congress is working on trying to provide some relief for people through bankruptcy and student loans but your best option right now is to log into the department of education website: www.ed.gov.
At that website, you can apply for the following:
• A forbearance
• An income based, repayment plan
• To have student loan eliminated because you are disabled
• Other options available as well
We can help monitor or administer your student loan through a Chapter 13 program to buy you some more time to try to reduce those payments but long term that is not a good solution. If you have questions about student loans and how bankruptcy might impact student loans, feel free to contact our office at 731.424.3315. The first consultation is always FREE.