If you are a student loan borrower in debt, it is important to know your rights, a student loan lawyer in Virginia can help you understand the options available to you.
And assist with any legal proceedings related to your student loans.
We can help you connect with a licensed lawyer today to get started on resolving your debt.
The average debt of Virginia residents who borrowed to pay for college is $37,098, greater than the national average of $36,689. Although the 1% difference may appear little, the commonwealth ranks fourth-highest in the country regarding average student loan debt.
The suspension of certain federal student loan payments has been extended until May 1, 2022, but this does not imply that Virginia borrowers are off the hook.
Here are four situations in which you may need the aid of a student loan lawyer in Virginia.
If you’re having difficulties repaying your student loans, whether it’s due to defaulting on one or owing them for a long time, student loan lawyers may help with the following:
Student loan wage garnishment
If you have a student loan, your loan servicer may collect part of your salary to pay down the debt. It’s acceptable to do so, but don’t let them take too much money from you because it will end up costing you more in the long run.
Don’t let your tax refund be used to pay off your student loans.
The government can seize money from your tax refund to pay off a federal student loan. The government may not do this because you might not have enough money if they do.
Contact your student loan provider to see whether there are ways to lower the cost of your recurring payment.
A settlement may be negotiated with the individual you owe money to through attorneys who assist with student loans. The amount of money you’ll have to repay will be decreased as a result of this.
Student loan bankruptcy is a legal way to get rid of debt.
Filing for bankruptcy can be hard, but it is sometimes possible to have your student loans taken away. This means that the court would take away the responsibility of paying them off, and you would no longer owe anything.
A student loan lawyer in Virginia can help you with any of these issues.
A student loan lawyer in Virginia can help you with your federal student loans.
You might have received a letter in the mail telling you that the federal government has taken action to take your money because of loans. They may send you a letter telling you that your tax refund will be taken because of debt.
If any of these are true, don’t worry. You are not the only one.
Americans owe $1.71 trillion in student loan debt. There are 44.7 million people who have student loans.
Student loan lawyers can help you if you want to avoid defaulting on your loans and having your wages garnished. But you have to act quickly if you want them to.
Student loan lawyers can assist you with the following:
You need to pick the right income-based repayment plan.
A student loan lawyer can help you determine if you qualify for a plan and which one is good for you. There are many plans to choose from, like PAYE and REPAYE, and ICR.
Lower monthly payments
Student loan repayments are often reduced. If you can’t make the monthly payment, think about ways to pay less money.
Consolidate student loans
Consolidating student loans might be a smart option for individuals who only have to worry about one loan payment at a time. Students and their parents may qualify for direct consolidation loans from the government. You could also save money by combining your student loans with a private firm.
Student loans may only be settled if the borrower is in default.
If you’ve been in default on your student loans for six months, you have a second chance to get back on track. If you have a federal student loan in default, your lender might be willing to accept less than the full amount owing. You may qualify if you are unemployed or experiencing financial difficulty.
I can also guarantee that your student debt is eligible for student loans forgiveness programs such as the Public Service Loan Forgiveness and income-based repayment options.
How can attorneys assist with private student loan problems?
With private student loans, They can help:
- Negotiate settlements
- Negotiate lower monthly payments
- Remove default status
- Remove cosigners and
- Evaluate refinance and consolidation options.
Contact a student loan lawyer in Virginia.
Because you have to fill out a lot of papers and jump through hoops when dealing with the IRS or another government agency, it might be difficult to work with them. You may not be aware of all of your choices. They can assist you with this!
The government will seize a portion of your tax refund if you have student loan debt but are not paying it. You can contact our attorneys to see if they may assist you. We want to help you.
They will assist you in determining which repayment plan is best for your defaulted student loans. Don’t squander any more money!