Believe it or not, there are options available to you- and a student loan lawyer in Arizona can help you explore them.
Arizona residents have the highest average student loan debt in the country, with an average debt of $34,712 — 5% less than the national average. This puts Arizona in 12th place for the highest student loan debt when compared to yearly earnings of $50,930.
You don’t have to go through the process of getting legal help with your student loans alone. We’ll put you in touch with a trustworthy student loan lawyer in Arizona who can lead you through all of your options so that you get the best result possible!
4 ways a student loan lawyer in Arizona can help
If you’re struggling to pay your student loans, no matter what student loan issue you’re facing student loan lawyers can help with the following:
Student loan wage garnishment
If you’re falling behind on your student loans, your loan servicer may claim that they can take part of your paycheck in order to pay off the debt. While this may seem like a great option for catching up, it can actually hurt you financially in the long run if they seize too much of your income.
Protect a tax refund from student loan offset
If you owe on a federal student loan, the federal government can intercept your tax refund to pay off that debt. This isn’t always ideal since it may leave you without enough money to cover all of your other expenses & bills!
Negotiate student loan settlement
Student loan lawyers can help you Negotiate student loan settlements, which can decrease the amount of student loan debt you owe.
File student loan bankruptcy
Filling for bankruptcy is a complicated process, but student loans are often discharged. That means that your debts would be forgiven by the court, leaving you without any financial liability for this debt.
A student loan lawyer in Arizona can help with all of those things.
A student loan lawyer in Arizona can also help with federal student loans
You received a letter in the mail informing you that your federal student loans are in default and that your earnings will be garnished.
It could have said that your tax refund would be offset for student loans, or perhaps it stated that your private student loan has come into default and they’re threatening to sue unless you make a huge payment.
Don’t worry if any of these is the case. You’re not alone.
Americans owe over $1.71 trillion in student loan debt, spread out among about 44.7 million borrowers.
Student loan lawyers can help get you off student loan default, stop wage garnishment, and stop your refund from being taken. Now, that’s only if you move quickly.
Student loan lawyers can assist you with the following:
Choose the right income-based repayment plan
A student loan lawyer can help you understand your eligibility and choose the right income-based repayment plan. You may qualify for one of the many income-based repayment plans like Pay as You Earn (PAYE), Revised Pay as You Earn (REPAYE), or Income-Contingent Repayment (ICR).
Lower monthly payments
Student loan payments can get lower, usually to 10 percent of your discretionary income. If you cannot make the current payment amount, it is worth exploring what you can do to lower your monthly payments.
Consolidate student loans
Consolidating student loans can be a good solution to focus only on one student loan payment. The federal government offers direct consolidation loans to students or parents. You may also be able to save money by consolidating your student loans with a private company.
Settle federal student loans (but only if they’re in default)
You have a chance to get back on track with your student loan payments. If you have a federal student loan in default, your lender can agree to settle for less than the amount you owe. You may qualify if you are unemployed or experiencing economic hardship.
Finally, I can ensure you’re student debt is eligible for student loan forgiveness programs like the Public Service Loan Forgiveness program and income-based forgiveness.
How lawyers can help private student loan issues
With private student loans, They can help:
- Negotiate settlements
- Negotiate lower monthly payments
- Remove default status
- Remove cosigners and
- Evaluate refinance and consolidation options.
Get in touch with a student loan lawyer in Arizona
Working with the IRS or any other government agency can be a difficult experience since forms to complete and hoops to jump through are involved. Obviously, you might not be aware of all your choices. That’s where we come in.
If you have student loans in default and are facing tax refund offsets, our student loan attorneys are here to help you. Make a free 10-minute call right now by clicking the button below.
They’ll go over your alternatives and assist you in deciding what is the best way to address your defaulted student loans before you lose another refund.
