texas attorney who specializes in student loans

What can a student loan attorney do for You?

 · Best Student Loan Lawyer in Texas: Settlement and Bankruptcy Nathaniel Altman January 1, 2022 A student loan lawyer in Texas can help you with your student loans and get them out of your life once and for all! This blog post will discuss what a student loan lawyer does, how they work with clients, and why hiring one could benefit you.

What is student loan law?

 · At ARM Lawyers, our student loan lawyers have extensive knowledge in this area of law and are dedicated to helping individuals with student loan debt get the relief they deserve.

Can I defer private student loans to find a job?

Student Loan Practice Areas; Allmand: Reed : Dallas : [email protected]: Black: John : Houston (713) 772-8037 : [email protected]: Bankruptcy : Clark: Amy : Austin : 512-850 …

Are the government’s own student loan debt collectors breaking the rules?

Our services are offered on a flat fee basis calculated as a percentage of the debt. Typically, we can settle our clients’ debt for 55-60 cents on the dollar and without the need for bankruptcy. If our clients end up being sued, we represent them through the trial for $500 plus the cost of filing the answer. YouTube.

Who should you contact if you have trouble paying student loans?

Contact the Department of Education's (ED) Office of Federal Student Aid (FSA) if you have questions about your loans or payments.

Does Texas have student loan forgiveness?

1, 2019, you may be eligible for up to $20,000 in loan forgiveness over a five-year period. Requirements: You must be sure you meet the required definition of peace offer, as outlined here. You must have earned at least 60 semester credit hours at an eligible Texas institution before becoming a peace offer.

Can you sue your student loan servicer?

For private student loans, there is just one option: File a complaint through the CFPB's online complaint system or by calling 1-855-411-2372. The CFPB forwards the complaint to the lender or servicer and seeks a response.

Who is the best person to talk to about student loans?

You should talk to your school's financial aid office – they will have information about your federal student loan options. Additionally, you can speak with the U.S. Department of Education's Federal Student Aid Information Center at 1-800-4FED-AID (1-800-433-3243) for information on student loans.

How can I get student loan forgiveness from Covid?

No, there is no coronavirus-related loan forgiveness for federal student loans. The Department of Education and your loan servicer should be your trusted sources of information about official loan forgiveness options. You never have to pay for help with your federal student aid.

Do Navient loans qualify for student loan forgiveness?

Borrowers who had loans that originated between 2002 and 2010—and later defaulted—will receive forgiveness, according to Navient.

Can student loans seize your house?

Most student loans are unsecured loans. If a defaulted student loan is unsecured, like all federal student loans and most private student loans, the lender must sue the borrower and get a court judgment against the borrower before they can seize the borrower's property.

Do student loans go away after 7 years?

Do student loans go away after 7 years? Student loans don't go away after seven years. There is no program for loan forgiveness or cancellation after seven years. But if you recently checked your credit report and are wondering, "why did my student loans disappear?" The answer is that you have defaulted student loans.

Can they come after your house for student loans?

Can private student loans take your house? Until you default on private student loans, your house is safe. Private lenders must sue the borrower and get a judgment before putting a lien on a home or taking money from a bank account.

How do you dissolve student loans?

Forgiveness is the best kind of student loan debt relief, but it's hard to come by. Income-driven repayment plans and Public Service Loan Forgiveness can erase people's remaining debt after many years of payments. Only federal student loans can be forgiven. Forgiveness can leave recipients with a big tax bill.

How can I get student loans paid off for free?

If you're not eligible for student loan grants, consider these alternatives:Apply for an Income-Driven Repayment (IDR) Plan. ... Pursue Public Service Loan Forgiveness (PSLF) ... Refinance Your Student Loans. ... Ask Your Employer About Repayment Assistance. ... Explore Loan Discharge Programs.

Can a financial advisor help with student loans?

Student loans are complex financial instruments with a confusing array of repayment options. Independent financial advisors may provide useful assistance such as comprehensive financial planning services, but borrowers should choose professionals advisors with care.

Is Texas part of the Navient settlement?

Texas is not part of the settlement but an attorney hopes that Attorney General Ken Paxton follows suit. HOUSTON, Texas (KTRK) -- One of the largest student loan servicers agreed to cancel $1.85 billion dollars in student loan debt for 66,000 borrowers.

How do I pay my student loans in Texas?

Please mail payments to:Payments with Correspondence: Texas Higher Education Coordinating Board. PO Box 12788. Austin, Texas 78711-2788.Payments without Correspondence: Texas Higher Education Coordinating Board. PO Box 12187. Austin, Texas 78711-2187.

Are these student loan forgiveness calls legit?

Quick student debt elimination is a myth. So if you receive a phone call from a student loan debt relief company promising fast debt cancellation, you're likely dealing with a scam. Scammers might make a claim that because you attended a certain college that closed you can get your debt completely wiped out at a cost.

Will student loans be forgiven for healthcare workers?

How Does Student Loan Forgiveness Work for Healthcare Workers? Like other public service employees, healthcare providers who work at nonprofit or government organizations can qualify for Public Service Loan Forgiveness. You can also sign up for an income-driven repayment plan to pay off your federal loans.

How many loan forgiveness programs are there in Texas?

There are at least 9 different loan forgiveness programs offered to Texas residents working in different professions.

What to do if you can't keep up with student loans?

If you can't keep up with your student loan payments, your options may be limited to look into refinancing with a different lender or attempting to negotiate a settlement.

Can you garnish a student loan in Texas?

For most Texas residents, the type of student loan wage garnishment you' re looking to stop is a garnishment for a federal loan.

Is it bad to default on student loans?

The good thing about private student loans is that defaulting on them isn't as bad as defaulting on your federal loans.

Does location matter for student loan garnishment?

Thankfully, for most things, location doesn't matter. I can help you stop a student loan garnishment, get out of default, negotiate a settlement, choose the right repayment plan, etc. no matter if you live in Dallas or Houston or San Antonio.

Can Texas garnish wages?

When that happens, they may be able to garnish your wages (Texas has special rules that makes this hard to do) levy your bank accounts, and put a judgment lien on your home.

Is student loan forgiveness good?

Federal student loans are a double-edged sword. They offer flexible repayment plans and loan forgiveness programs. Those are the good things.

What can a student loan attorney do?

After our student loan attorney reviews your full financial picture, he can make recommendations as to the best course of action. In some cases, that may be as simply as placing you in an income driven repayment plan which would lower your payment. In other cases, we may try to reduce or eliminate your student loans. Your student loan attorney will explain the best options for you.

What to discuss with a student loan lawyer?

When you meet with a student loan lawyer, you’ll start by reviewing your entire financial situation. This includes the types of student loans you have, the balances, the payments, and any other relevant facts such as when you went to school, your payment history, and your current employment.

Why are student loans better than other loans?

Federal student loans have an advantage when it comes to lowering monthly payments because there are repayment plans available and other programs to help with monthly payments. The income-driven repayment plans offered by the federal government allow individuals to base their monthly payments on their income.

What is an ARM lawyer?

At ARM Lawyers, our student loan attorneys are in a unique position in that we have the extensive knowledge necessary to handle student loan cases and, if necessary, bankruptcy cases. Our student loan attorney handles student loan bankruptcy /adversarial proceedings in Pennsylvania, Maryland, New Jersey, and New York and has offices in each of these states.

What is the essential student loan survival guide?

Written by our student loan lawyers, this guide aims to help you better understand your student debt situation and navigate the potential solutions for said debt including the process for implementing the solutions.

What to do if you can't make student loan payments?

If you can’t make your payments, our student loan attorney will breakdown your options based on your loan, including rehabilitation, consolidation or refinancing. We can also work with private lenders to make your payments more affordable and potentially change some of the terms of your loan.

How long can you default on a student loan?

Defaulting on student loans, whether federal or private, can have huge repercussions on your loans. Once one payment on a federal loan is late for more than 270 days, your loan balance is subject to a 24.5% addition to the balance of the loan and you can default multiple times.

Why do you need a student loan lawyer?

Here is the main reason you need a student loan lawyer to fight for you and protect you against student loan lenders , such as Navient, Discover, National Collegiate Trust, etc. — there is A LOT of money exchanging hands in the student lending market.

What is a student loan settlement?

Under our student loan debt settlement program, a licensed attorney contacts your student loan lenders and begins a negotiation process to significantly reduce the interest AND principal the lender claims is owed. At the end of a successful student loan settlement, the borrower ends up paying only a fraction of the original balance claimed by the lender. The rest of the debt is forgiven by the lender and the settlement is a full and final settlement of the debt, leaving the borrower without the burden of student loan debt going forward. All of this is done without filing bankruptcy.

Why do people get student loans?

When you enrolled in college, you probably thought you were making an investment in your future, and you were. What you hadn’t planned on was that the economy would tank, jobs would disappear and your student loans would become a huge burden following you around for the rest of your working life. Unfortunately, that is the reality many find themselves in today. With the economic downturn and recessions of the 2000’s and 2010’s, many went to college or pursued higher education to help their chances of landing a good paying job. Consequently, student loan debt has soared, higher than ever before. In particular, many were forced to take out higher interest rate private student loans, not backed by the federal government. Some less scrupulous schools lured people into education programs with promises of high paying jobs that never materialized. With tuition costs also soaring, private student loan debt has ballooned to crisis levels in this country. If you find yourself with less income than you anticipated and unable to keep up with student loan payments, there is help with an attorney negotiated student loan debt settlement.

What are the two main types of student loans?

There are two main categories of student loans: federal and private. Federal student loans, such as Stafford Loans are backed by the federal government and are highly regulated. We do not work with federal student loans. On the contrary, private student loans may be issued by well known banks, like Citigroup or Chase Bank.

Is student loan debt higher than ever before?

Consequently, student loan debt has soared, higher than ever before. In particular, many were forced to take out higher interest rate private student loans, not backed by the federal government. Some less scrupulous schools lured people into education programs with promises of high paying jobs that never materialized.

Can you file for bankruptcy with a student loan?

In most situations, neither federal student loans nor private student loans are eligible to be discharged in bankruptcy. However, in some cases, you can have a federal student loan discharged if you experienced serious problems with your school, worked in public service, or have a severe disability.

Is a private student loan a government loan?

Interest rates for private loans are generally higher, cannot be forgiven, and are never subsidized. However, private student loans are not need-based so you can qualify for a higher loan amount if you have good credit.

How to find out if my student loan is private or federal?

Visit the Federal Student Aid website at studentaid.gov and access the site with your FSA ID, which you used to apply for your Free Application for Federal Student Aid (FAFSA). This website has information on all federal student loans and will allow you to see your loan amount, outstanding balance, servicer, and other details. This is the easiest way to determine whether your student loan is federal or private. If you are unable to find your loan information on the studentaid.gov website, then you’ll know that your student loans must be private.

What is student loan consolidation?

Student loan consolidation: This is a government program that will combine multiple federal student loans into a single loan. You receive a new interest rate that is usually an average of all of the loan rates. Your monthly payment may decrease as a result of inheriting a longer-term, but you’ll end up paying more in interest over time. This is not an option for private student loans.

Can a non-lawyer settle student loans?

The student loan debt industry is littered with non-lawyers that will offer to settle your debts. However, some major lenders won’t negotiate with non-lawyers attempting to settle a debt for someone else. As your lawyer, McCarthy Law is able to deal with any creditor to help settle your private student loans. Our team of expert debt attorneys has helped countless clients avoid bankruptcy and settle their debts for a fraction of what they owe.

Is it cheaper to hire a debt attorney or a non-lawyer?

Some people believe that hiring a debt attorney will cost them more than working with a non-lawyer debt settlement company, but that is not the case. Experienced debt settlement law firms like McCarthy Law generally cost less and offer actual legal protection should a lawsuit be filed. Our team of licensed student debt lawyers will end up saving you more money than they will cost you. Call (855) 976-5777 or complete an online contact form for a free debt consultation.

Can you reduce the principal on a student loan?

Neither of these options will actually reduce the principal amount owed, unfortunately. In order to reduce the principal on student loans, you’ll need to work with one of our skilled attorneys to obtain a student loan settlement or discharge.

Can you get student loan forgiveness from McCarthy?

If your loans are federal, unfortunately, McCarthy will not be able to help. However, you may be able to qualify for student loan forgiveness —meaning you would no longer be required to repay some, or all, of your federal student loans. Click here to see if you qualify. If you think you may be eligible for federal student loan forgiveness, contact your loan servicer to submit an application.