what kind of attorney should i talk to about student loan?

Who should I talk to about student loans?

Can I sue for my student loans?

How do you fight student loans?

How do I sue my student loan servicer?

How do I respond to a student loan lawsuit?

What assets can be seized in a lawsuit?

How can I get rid of student loans without paying?

How can I get rid of my student loans fast?

Do student loans go away after 7 years?

Who regulates private student loans?

What happens when you stop paying student loan?

What is the Navient lawsuit?

Who is a student loan lawyer?

A student loan lawyer is an attorney who is experienced in dealing with student loan debt issues, can illuminate your options and can represent you with lenders, creditors and the courts. Every situation is different, so we are not here to tell you when you definitely should or should not hire a student loan lawyer.

What to do if you are being sued for student loans?

If you are being sued or are in collections, in most cases you will want to speak with a student loan lawyer. Often an attorney can help you see solutions you might miss before the window of opportunity for action narrows. Even if you decide to proceed on your own, it is a good idea to consult with an attorney.

How long does it take for a student loan to default?

Your student loans are in default when you have not made payments for 270 days (about nine months). This is the point that signals to a lender that you do not intent to pay back a loan. Therefore, they will refer your case to a collection agency to take action against you. If you act quickly, you may be able to work things out with your loan servicer yourself. Even then, consulting with a student loan lawyer is not a bad idea even if you handle the bulk of the work yourself.

What to do if student loan default proceeds to a law suit?

But if your default proceeds to a law suit or collections, you should consult with a student loan lawyer. However, you could first try talking with your loan servicer and use some of the remedies such as an Income-driven payment plans described above in the Delinquency section.

How to get student loans out of default?

You may be able to resolve your defaulted student loans by going through a Direct Consolidation . This is the federal consolidation program which takes your loans out of default, and puts them back into good standing. At that time you are also able to select an income driven repayment plan which could give you a payment as low as $0.00/mo. This can be done without an attorney.

How many people default on student loans?

Over 3,000 people default on their federal student loans each day in the United States. Fortunately, you have many options to help you get your payments under control, and most of these you can do yourself. However, there are occasions when it pays to hire a student loan lawyer. A student loan lawyer is an attorney who is experienced in dealing ...

How to rehabilitate a student loan?

To rehabilitate your loans, contact your loan servicer. To find out who that is, see the My Federal Student Aid website. Unless you are having difficulty speaking with your loan servicer, you probably don’t need a student loan lawyer to rehabilitate your loans.

How are attorneys different from student loan companies?

In other words, attorneys are accountable not just to you, but also to their state bar. This provides you with a lot of protections and recourse if you get mistreated or defrauded , as compared to unlicensed companies and organizations.

What to do when overwhelmed by student loan?

If you're feeling overwhelmed by a student loan issue and want some guidance to make sense of it all. A good rule of thumb to follow is asking yourself whether you can do it yourself, or do you feel you need an advocate to work on your behalf to resolve the issue.

What is the most common type of attorney-client fee arrangement?

2. Hourly Fee / Retainer: This is the most traditional type of attorney-client fee arrangement and involves paying for the attorney’s time at that attorney’s hourly rate. The client usually pays an initial “retainer” – also known as an advance fee deposit – to cover a certain amount of billable time up front (say $5,000 or $10,000). The attorney then draws from that retainer as he or she completes the relevant asks. If the retainer doesn’t get used up when the matter is completed, the balance gets returned to the client. If the retainer gets depleted, the client may have to replenish the retainer. The size of the retainer and the number of billable hours for a case really depends. For example, defending a collections lawsuit may take significantly more billable hours than assisting with a loan consolidation application.

What is flat fee for attorney?

3. Flat Fee: Some attorneys provide specific services for a set fee, no matter how long it takes the attorney to complete the service. This is also known as project-based work. This can provide some protections for the client, so that if something takes longer than expected, the client isn’t on the hook for additional fees. But the fee would likely only cover a specific task or set of tasks that the attorney has been hired to perform. A good example of this might be completing an income-driven repayment application.

How to find out if an attorney has a record of public discipline?

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.

How many fee structures are there for a lawyer?

According to Adam Minsky, there are four basic fee structures for working with a lawyer.

When hiring for any professional service that has to do with your finances, do you want to be clear about what's

When hiring for any professional service that has to do with your finances, you want to be clear about what's expected, what the payment is, and follow up to ensure everything is done correctly. If you do pay for help, do your research to avoid student loan scams.

What can a student loan lawyer do?

A student loan lawyer can analyze your debt troubles as well as fight on your behalf if you’re being sued.

What to do if you are sued for student loan?

This is especially true if you've been sued. If you need an attorney but you're not sure where to start, you can try the National Association of Consumer Advocates , which is a national bar association of consumer rights attorneys, some of whom may handle student loan issues.

What to do when a student loan collector calls?

Tate: The first thing you should do when a debt collector calls about a student loan is demand verification of the debt. Don't pay anything until you get written proof you owe the debt. Proof should come in the form of a promissory note and a document showing the collector has been authorized to collect upon the debt.

Does the organization above call or text borrowers with offers of debt resolution?

None of the organizations above calls, texts or emails borrowers with offers of debt resolution.

Is there a lawyer for student loans?

Tate: There are but a few student loan lawyers nationwide. In my experience, those who call themselves student loan lawyers are both highly trained and highly experienced in solving student loan problems. That combination of training and experience allows a student loan lawyer to effectively and efficiently solve your problems.

Is an attorney a licensed professional?

Minsky: Attorneys are a regulated profession, overseen by state licensing boards (called the bar) and held to strict rules about confidentiality and obligations to serve their clients. In other words, attorneys are accountable to you and to their state bar. This provides you with a lot of protections, whereas student loan consulting companies may be run by unlicensed professionals.

Can a lawyer help with student loan debt?

If you need student loan help. 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.

What is a student loan lawyer?

A student loan lawyer, on the other hand, is obligated to give you legal advice while doing what’s in your best interest. They'll tell you which student loan repayment plan is best for you, whether loan consolidation is right for you, or how to lower student loan payments, etc.

How much does it cost to hire a student loan lawyer?

Hiring a student loan lawyer can cost you between $500 and $5 thousand dollars in legal fees depending on what help you need. For instance, help consolidating loans or lowering monthly payments is typically cheaper than lawsuit defense or getting rid of student loans in bankruptcy.

What happens when you stop paying interest on a loan?

But when payments stop, the incentive changes. Now, money is no longer coming in.

Do I need a lawyer for student loans?

Do I need to hire a student loan lawyer? You don't need to hire a student loan lawyer. You can try to work with your loan holder, loan servicer, debt collection agency, etc. yourself. You hire a lawyer because you want a student loan expert to put you in the best possible position and you want to avoid the stress of solving the problem yourself.

Can student loan lenders negotiate settlements?

Negotiate settlements: student loan lenders are often willing to negotiate settlements on federal and private student loans. But only after the borrower defaults.

Can a lawyer get my student loans forgiven?

Can a lawyer get my student loans forgiven? A lawyer can review your loans and determine if you can get your loans forgiven based on the school you attended, the type of work you do, whether you have medical issues, etc.

Will student loans ever be made again?

And, if it’s a private student loan, there may be no assurances payments will ever be made again. Private student loans don’t have the same collection powers (wage garnishment, tax refund and Social Security offset, etc.) as the Department of Education has with the federal student loan programs.

What to do if you have been served with a lawsuit?

Robyn Smith, an attorney at the National Consumer Law Center, recommended that if you’ve been served with a lawsuit, get an attorney who specializes in debt collection and credit reporting issues. Take the papers to a student loan attorney as soon as possible and before your scheduled court appearance. By ignoring the papers, you literally give the creditor a default judgment against you.

What is the phone number to contact a debt collector?

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 ...

Can a school loan collector be exploited?

Borrowers should not be exploited by greedy or incompetent loan servicers or their debt collectors. The Federal Debt Collection Protection Act (FDCPA) applies to collectors of school loan debts. The FDCPA specifically forbids these collection activities:

How to find out about private student loans?

First, you should talk to your school’s financial aid office – they will have information about your federal student loan options. To find out more information about private student loan options, you might first consult a local credit union or bank. You should also ask your school’s financial aid office to see if they have any lenders who offer ...

Where to shop for student loans?

For private student loans, you should shop around at different lenders, including banks, credit unions, or other student loan providers . A good practice is to get quotes from at least three different providers. You might first consult your local credit union or bank, if you or your family holds an account there. You should also consult your school’s financial aid office to learn more about your payment options.

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.

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 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.

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.