Student loans are a big problem for many student loan borrowers. With student debt skyrocketing, it’s no wonder that so many people are looking for a student loan lawyer for help!
Working with a student loan lawyer can be a serious next step. In this article, we’ll discuss what student loan lawyers do and how they can help you get out of student debt.
More: Student Loan Advisor: What They Do and How Can They Help You.
What is a student loan lawyer?
Student loan lawyers are professionals who help student loan borrowers negotiate and get out of student debt. They can work with you to create a plan to repay your loans, or they may be able to help you discharge your student loans altogether.
Attorneys specializing in student loan debt are uniquely situated to give legal advice on complex student loan problems. Student Loan Lawyers know how the student loan process works. They know the rights that people have and can help them make legal decisions.
Can a lawyer help with student loans?
Yes, a student loan lawyer solves student loan problems. They work with the U.S. Department of Education, student loan servicers like Navient, private lenders, and collection agencies.
Student loan lawyers can help you with the following:
File student loan bankruptcy: There are very few cases where student loan bankruptcy is an option, but a student loan lawyer can help you determine if this is an option for you. In order to file for bankruptcy, you must prove that repaying your student loans would cause undue hardship for yourself and your family.
Stop collection activity: Federal law says that the federal government can take your wages or income without a court order. If they do, you will not get your tax refund or Social Security Benefits.
Negotiate settlements: Typically, private and federal student loan lenders are prepared to negotiate settlements on both types of student loans. However, this is only after the borrower has defaulted.
Make sure you’re eligible for loan forgiveness programs: Thousands of public service workers (teachers, correctional officers, and others) were turned down for student loan forgiveness because they failed to meet the program’s technical criteria. A student loan lawyer may assist you in determining whether your loans qualify and devise a strategy to increase your chances of receiving forgiveness.
Defend student loan lawsuits: The consequences of failing to make sufficient student loan payments can be severe. If you default on enough student loan payments, your loans will go to debt collectors. You may avoid dealing with those debt collectors for a long time by ignoring them. Finally, you’ll get a summons ordering you to appear in court if you continue to ignore those debt collectors for too.
Borrowers’ defense to repayment: In the United States, student loan borrowers are entitled to certain protections that might lead to debt relief in the form of discharge or loan cancellation under consumer protection laws.
Lower monthly payments: Forbearance and deferrals are only temporary in nature. They will eventually cease, and you’ll need assistance in obtaining a budgeting solution.
How much does a student loan lawyer cost
If you’re already running short on funds, hiring an attorney may be out of the question. After all, attorneys can charge anything from $500 to $5,000 for their services. When it comes to situations like wage garnishment, what you pay today will save you money in the long run.
Student loan attorneys sometimes provide clients with repayment plans or other forms of help. They recognize the difficulties you are facing and don’t want to make assistance seem unattainable. Make sure you’re satisfied with their fees and payment plans before choosing any legal counsel.
Where to find the best student loan attorney?
Finding a student loan attorney near you that specializes in student loans is challenging. Unfortunately, there is no distinct sign to indicate that you are dealing with the best student loan lawyer for your case.
It’s critical to perform a cost-benefit analysis: What are you paying in costs, interest, and other expenses now? How much will it cost to hire a student loan lawyer who can assist you with leaving your current situation?
The following are some other options for obtaining legal assistance: You may contact one of the following national agencies to inquire whether they can direct you to competent legal counsel:
- American Bar Association (ABA)
- National Association of Consumer Advocates (NACA)
- National Association of Consumer Bankruptcy Attorneys (NACBA)
Do you need assistance from a student loan lawyer?
We can help you connect with a student loan lawyer. Call now student loan lawyers can help if you find yourself in a difficult situation that you can’t get out of on your own.
