An experienced student loan attorney can advise you on the potential solutions based on your individual situation. Very few attorneys understand the intricacies of student loan law, which makes choosing an experienced student loan lawyer that much more important.
There are even fewer attorneys that practice in this area of law. You don’t just need a lawyer – you need a student loan 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.
What kind of student loans qualify for public service loan forgiveness? The federal student loan must be a Direct loan from the Department of Education . If you do not have a Direct loan, you can consolidate your loan(s) into a Direct loan so that you can …
May 26, 2017 · NACA is a bar association for attorneys who only represent consumers and borrowers, and you can search for local attorneys who have listed “student loans” as an area of practice. Contact your state bar association for a referral (many state bar associations have referral services).
Student loan attorneys can provide you with legal advice, represent your interests during negotiations or lawsuits, resolve delinquencies, protect you from debt collector misconduct, and handle any credit disputes. Am I able to discharge a federal student loan without having to …
Student loan lawyers can help if you find yourself in a difficult situation that you can't get out of on your own. If you're deep in the trenches and dealing with default or bankruptcy, you might want to consider looking for legal help.Dec 30, 2020
8 Ways You Can Quit Paying Your Student Loans (Legally)Enroll in income-driven repayment.Pursue a career in public service.Apply for disability discharge.Investigate loan repayment assistance programs (LRAPs).Ask your employer.Serve your country.Play a game.File for bankruptcy.May 18, 2018
While it is unlikely that you will be able to personally sue your student loan servicer, you may be able to enter a class action lawsuit. Each class action lawsuit is unique, so there are no guaranteed outcomes for plaintiffs.Aug 31, 2021
The myeddebt.ed.gov website helps student loan borrowers, who are in default, to arrange debt payments. There are multiple ways to contact the Default Resolution Group, or you may call 1-800-621-3115. For more information on defaulted student loans, see Understanding Delinquency and Default.Nov 19, 2021
9 ways to pay off your student loans fastMake additional payments.Establish a college repayment fund.Start early with a part-time job in college.Stick to a budget.Consider refinancing.Apply for loan forgiveness.Lower your interest rate through discounts.Take advantage of tax deductions.More items...•Nov 17, 2021
All you need to do is file an account dispute with each of the three credit bureaus, and they'll be required by law to follow up with the loan servicer within 30 days. If the servicer confirms the corrected information to the bureaus, the negative information will be removed.Aug 6, 2021
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.Jan 13, 2022
Here's what you need to do if you're being sued for your student loans:Get background information.Speak with a student loan lawyer.Answer the lawsuit.Head to court.Jun 30, 2021
The Department of Financial Protection and InnovationThe Department of Financial Protection and Innovation (DFPI) licenses and regulates student loan servicers operating in California.Jan 20, 2022
But they can't. Scammers use fake seals and logos to lure people in. They promise special access to repayment plans, new federal loan consolidations, or loan forgiveness programs. It's a lie.Dec 15, 2021
As a rule of thumb, try to keep your monthly student loan payment around 10 percent of your projected after-tax income your first year out of school. For example, if your take-home pay is $2,800 a month, then your student loan payments shouldn't exceed $280.Jun 9, 2021
Student loan attorneys can provide you with legal advice, represent your interests during negotiations or lawsuits, resolve delinquencies, protect...
In most situations, neither federal student loans nor private student loans are eligible to be discharged in bankruptcy. However, in some cases, yo...
While federal student loans are offered by the government, private student loans are offered by private-sector lenders. Interest rates for private...
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 requirement for teacher loan forgiveness is teaching for 5 consecutive years in a qualifying school district. Generally, most rural and urban school districts and some suburban school districts will be qualifying school districts. However, a good rule of thumb is to ask the principal of any school if the school district will qualify.
Depending upon the type of federal student loan repayment plan you are in, your loans may be forgiven after 20 or 25 years of qualifying payments. If you are unsure of whether your loan qualifies for income-driven repayment forgiveness or are unsure of the type of income-driven repayment plan you’re in, our student loan forgiveness lawyer can ...
The main loan forgiveness program that gets the most notoriety is public service loan forgiveness. Public service loan forgiveness is not defined as a program you enroll in; rather, it is a redemption plan in which you redeem the forgiveness once you have reached the required 120 qualifying payment months. There is no limit on how much student loan debt can be forgiven. Public Service Loan Forgiveness has three requirements to make the payments “qualifying”: 1 The right kind of employer 2 The right kind of loan 3 Actively paying
Unfortunately, unlike the public service forgiveness, income-driven repayment forgiveness is potentially taxable. We say potentially because there are exceptions to the rule. If this is a concern for you, our student loan forgiveness lawyer along with our tax lawyers can advise you on ways to address this.
Loan forgiveness is a great option for those individuals who can meet the requirements. Unfortunately, many people make mistakes in meeting the requirements and there is no going back and changing who you worked for or the hours you worked. Therefore, it is essential that you start out in compliance.
There is no limit on how much student loan debt can be forgiven. Public Service Loan Forgiveness has three requirements to make the payments “qualifying”: The right kind of employer. The right kind of loan. Actively paying.
According to Adam Minsky, a lawyer will typically help with the following when it comes to student loan debt: 1 Advice and counsel regarding your legal rights and options for your student loans. 2 Direct representation and advocacy in communications with student loan lenders, servicers, debt collection agencies, credit bureaus, dispute bodies, and other relevant entities. 3 Negotiations with student loan lenders, servicers, and debt collection agencies to obtain a desired resolution. 4 Assistance in the preparation, completion, and review of student loan-related documentation such as program applications, letters and correspondence, and contractual agreements (such as student loan rehabilitation or settlement agreements). 5 Representation in court to defend you against a student loan collections lawsuit or to pursue companies that have harmed you.
Avvo also provides a record of client reviews and peer endorsements, which can be helpful in selecting an attorney. Once you find an attorney you might want to work with, cross-reference the attorney with your state bar association to see if that attorney has any record of public discipline.
NACA is a bar association for attorneys who only represent consumers and borrowers, and you can search for local attorneys who have listed “student loans” as an area of practice. Contact your state bar association for a referral (many state bar associations have referral services).
Robert Farrington. Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future.
Dealing with a difficult student loan situation can be tough. It's not only financially draining, but it can be extremely hard emotionally. If you find yourself wanting professional help for your student loan debt, make sure you consider whether a lawyer is the right choice.
The fact is, most issues with your student loan debt doesn't require the services of a lawyer. For many things, such as changing your repayment plan or applying for student loan forgiveness programs, you can fill out the paperwork or online form yourself. However, there are scenarios where it can be very beneficial to pay a lawyer ...
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.
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.
If a debt collector has been hounding you, to speak with a representative directly and immediately call 844-685-9200 for a free, no-obligation case evaluation. Our attorneys have experience in assisting those with student loans, fighting debt collectors, and standing up for consumers. If a debt buyer has violated the Fair Debt Collection Practices ...
The CFPB and three states have sued Navient, the largest servicer for student loans , for alleged illegal activity which cost borrowers millions. According to a New York Times article, Illinois Attorney General Lisa Madigan said that the misdeeds could affect every customer and that damages could be billions of dollars.
The FDCPA specifically forbids these collection activities: The use of conduct which is likely to harass, oppress, or abuse a consumer regarding the collection of a debt. The use or threat of use of violence or other criminal means to harm the physical person, reputation, or property of any person.
A lawyer may be able to help if you are in default, but before it comes to that, consider how to take back control of your student loan payments. If you’re struggling with your student loan debt, first speak with your servicer or lender to: Discuss repayment options, such as an income-driven repayment plan.
For example, the U.S. Department of Education has an Ombudsman Group that can look into disputes between borrowers and servicers. Borrowers can also file a complaint with the federal Consumer Financial Protection Bureau, which oversees many aspects of student loan servicing.
About the author: Anna Helhoski is a writer and NerdWallet's authority on student loans. Her work has appeared in The Associated Press, The New York Times, The Washington Post and USA Today. Read more.
Many consultants charge $1,000 or more for a federal student loan consolidation. Getting you into income-based repayment often costs about the same, if not more.
When you’re dealing with a consultant, you don’t get the benefit of legal advice. And without legal advice, you’re trusting your financial future to someone without formal training.
Consultants don’t understand the complexities of National Collegiate Student Loan Trust and other private student loan entities.
Want to know a secret? You can do a federal student loan consolidation on your own – and there’s no charge.
Student loans generally cannot be discharged. You will have to show an extreme hardship to discharge a student loan.
I am not a bankruptcy attorney, but I know that student loans can be discharged. It is not, however, automatic. You need to file a special petition and claim hardship. The bankruptcy case can probably be re-opened. Your bankruptcy attorney may not have known about this issue, but that is where I would start.
It sounds like you either did not get a discharge in bankruptcy for that loan or they are ignoring the discharge. In either event, you need to retain a lawyer to look into the issue.