what type of attorney would be able to advise on student loan issues?

What can a student loan attorney do for You?

 · 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.

Are student loan advisors equipped to deal with student loan problems?

A student loan lawyer is a general term to describe the types of problems an attorney handles. It does not, however, always mean the same thing. Until the late 19th century, most people didn’t go to law school – they apprenticed in a process called “reading law”.

Do you need a student loan advocate?

 · According to Adam Minsky, there are four basic fee structures for working with a lawyer. 1. Consultation Fee: You might be able to pay an attorney for a limited session to obtain advice or counsel, or to get assistance with a specific issue (such as reviewing a settlement agreement or looking over a credit report).

Where can I find a student loan attorney in my area?

Consider a Trained Counselor for Certain Types of Assistance. While an attorney can be the best fit in some situations, a student loan expert who doesn’t have a law degree could also be a good (and less expensive) way to get started. Unfortunately, you’ll want to be cautious as student loan counseling scammers prey on troubled borrowers.

Who can advise me on 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.

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.

Can I sue my student loan company?

If your complaint is about a collection agency for federal student loans, you can file a complaint with the U.S. Department of Education's Default Resolution Group at 1-800-621-3115, who will direct you to the Special Assistance Unit for resolution of the problem.

How do you fight student loans?

Options to Get Out of Repaying Student Loans LegallyLoan Forgiveness Programs. ... Income-Driven Repayment Plans. ... Disability Discharge. ... Temporary Relief: Deferment or Forbearance. ... Student Loan Refinancing. ... Filing for Bankruptcy: A Last Resort.

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.

What can you do if you can't pay your student loans?

Contact your loan servicer, explain the situation and try to arrange an affordable payment schedule. Cut expenses and increase income to generate enough money to make payments. Contact your loan servicers and sign up for an income-driven repayment plan. Consolidate your loans to lower monthly payments.

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.

Can I sue the government for student loans?

States Can Sue Federal Student Loan Servicers, Education Department Says - The New York Times. Business|The Education Department ends its effort to stop states from suing federal student loan servicers.

Are student loans forgiven after 10 years?

As part of the federal program, any eligible borrowers are able to have their loans cleared after 10 years if they meet some qualifying requirements.

Are student loans automatically forgiven after 20 years?

Any outstanding balance on your loan will be forgiven if you haven't repaid your loan in full after 20 years (if all loans were taken out for undergraduate study) or 25 years (if any loans were taken out for graduate or professional study).

How do I write a letter of dispute for a student loan?

Write a Letter Next, write a letter to the loan servicer that submitted the incorrect information to the credit bureaus. The letter should include the account you're disputing, why you believe the account is inaccurate, any supporting documentation you have and a request to remove or fix the account.

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.

When and How Can Student Loan Attorneys Help You?

Attorneys who specialize in student loans may be able to assist you when you need to defend yourself in court, file a lawsuit against a company, or better understand your options from a legal perspective. Some common examples of when you might want to hire a lawyer include:

How to Find The Right Student Loan Attorney

You may come across many attorneys who claim they can help with your student loans but actually specialize in a different area of the law, such as bankruptcy or debt settlement. While they could offer some assistance, it’s best to hire an attorney who makes student loan law an integral part of their practice.

Consider a Trained Counselor for Certain Types of Assistance

While an attorney can be the best fit in some situations, a student loan expert who doesn’t have a law degree could also be a good (and less expensive) way to get started. Unfortunately, you’ll want to be cautious as student loan counseling scammers prey on troubled borrowers.

What are the areas of law that are tangled up with student loans?

Areas include the more obvious ones – bankruptcy, consumer protection, tax. They also include those areas that are less obvious – family , estate, immigration. Finding a student loan attorney in one of those areas can be difficult.

How do bankruptcy attorneys make money?

Bankruptcy attorneys generally make money by the number of cases they pursue. They file as many bankruptcy cases as they can and work them as efficiently as possible. They do this because they usually don’t bill by the hour. Instead, they generally bill their clients a flat rate per bankruptcy.

What is a list of debts?

Your current debts and expenses . A list of all your debts would provide an attorney with a starting point to see the financial obstacles you are dealing with.

What are the most common mistakes people make when explaining a legal situation?

One of the most frequent mistakes we see people make when they’re explaining a legal situation is that they skip over important facts and focus on irrelevant details.

Do attorneys want to stick to their niche?

For many attorneys time is money. You will likely be asking them to step outside of their typical area of practice. Many attorneys prefer to stick to their niche and not stray into other types of cases. When you discuss what you are looking for, be sure to get to the point. You think you have a winnable student loan case and would like their expert guidance in the matter. (Also, it never hurts to stroke someone’s ego when you are asking for help.)

Is it hard to find a lawyer for student loans?

If you are having difficulty finding an attorney to take on your student loan case, it doesn’t necessarily mean you have a bad case. It is difficult to find a student loan attorney because there are so few. Even though student loans affect millions in the U.S., few attorneys are knowledgeable on the laws surrounding student loan issues.

Can you discharge student loans in bankruptcy?

Discharging student loans in bankruptcy, however, is a unique circumstance. Bankruptcy law treats student loans differently than nearly any other type of debt. Student loan discharge requires more steps and more work than a standard bankruptcy. Furthermore, student loan creditors have successfully perpetuated the myth that student loans are impossible to discharge in bankruptcy. Many bankruptcy attorneys aren’t aware of the best ways to overcome this myth. So, why would the attorneys want the extra work if they aren’t going to make any extra money?

Introduction

We live in a day and age when we can get student loans to achieve our professional goals. However, sometimes (really a lot of times) we all may need help to pay back those student loans from time to time.

When a Lawyer is Needed for Student Loan Problems?

A lawyer is needed for student loan problems with the following scenarios:

What a Lawyer for your Student Loan Problems does?

There are various things that these lawyers will do to assist with student loan debt:

The Cost of a Lawyer for your Student Loan Problems

Attorneys have different terms and fees for their legal services. You can pay by the hour or pay with a retainer, in general. In some cases, you can get a free consultation. Also, there are different fees according to the type of service they will provide for student loan issues. The possible fees for legal services include:

Conclusion

As established now, some severe student loan cases require legal assistance. Nevertheless, there are personal loans available to get some relief with student loan debt. You can shop personal loans online or in person.

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 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.

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.

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.

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 consumer protection law?

Review loans for fraud: consumer protection laws provide student loan borrowers with certain rights that can lead to debt relief in the way of discharge or loan cancellation.

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.

How long does it take to settle a debt?

The US Department of Education has rigid guidelines that limit debt settlement to 90% of the loan balance payable within 30 to 90 days.

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.

What happens when you stop paying interest on a loan?

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

Can student loans hang over your head?

Having your student loan debt hanging over your head for years doesn't feel great. It's hurting your credit score, making it difficult for you to buy a home, and it's affecting your relationship. If you're tired of dealing with your student loan debt alone, consider getting help from a student loan lawyer.

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.

What is the CFPB suing?

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.

What is the CFPB?

The Consumer Financial Protection Board (CFPB) charged National Collegiate, which services private student loans, and its debt collector Transworld for filing lawsuits against borrowers based on false or misleading documents. According to the Washington Post, the CFPB investigation showed that Transworld filed 95,000 lawsuits nationally, including 2,000 without proof of ownership of the debt, resulting in a recovery of $21 million in judgments. Student debt lawyers won dismissals for their clients in New Hampshire, Ohio, and Texas based on Transworld’s lack of necessary documentation.

How many lawsuits did Transworld file?

According to the Washington Post, the CFPB investigation showed that Transworld filed 95,000 lawsuits nationally, including 2,000 without proof of ownership of the debt, resulting in a recovery of $21 million in judgments. Student debt lawyers won dismissals for their clients in New Hampshire, Ohio, and Texas based on Transworld’s lack ...

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 ...

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 consumer reporting?

The publication of a list of consumers who allegedly refuse to pay debts, except to a consumer reporting agency.

What is the use of violence?

The use or threat of use of violence or other criminal means to harm the physical person, reputation, or property of any person. The use of obscene or profane language or language the natural consequence of which is to abuse the hearer or reader.