Bankruptcy lawyers routinely say school loans can’t be discharged in bankruptcy. It’s not entirely true. You can discharge a student loan in bankruptcy if you can prove you are suffering an undue hardship as interpreted by the courts. This is virtually an impossible burden to meet. You have to file an adversary proceeding in your bankruptcy to assert it. The retainer for an adversary case can start at $10,000.
The easy way out is to simply say that both Federal and private loans are non-dischargeable. One Cleveland bankruptcy mill even puts it right in their fee agreement.
You can do something about the crushing press of student loans, whether federal, parent plus, or harassment from collectors that does not involve filing bankruptcy. You might even qualify for an administrative discharge of your federal student loans. Your loan servicer will not tell you about this. All they want is your money.
I am a member of an exclusive group of attorneys who are educated in the area of student loan law. I am a graduate of the prestigious Student Loan Law Workshop. A limited number of applicants are selected for this program.
The fact bankruptcy court can’t help does not make you helpless. Ask yourself if you:
- Cannot afford your minimum monthly payment?
- Face the threat of wage garnishment?
- Face social security offset?
- Have tax refund offset?
- Are being sued for a student loan?
- Are afraid to answer the phone because loan collectors harass you?
- Are in default?
- Are thinking about bankruptcy?
If you answer yes to any of these simple questions, you need to contact me for a $150 thirty minute consultation. We can do this in my office or we can do it by phone. Before we meet you will email me your up to the minute, federal student loan information for review. I will show you how to access it. There will be a few more simple forms to complete and return.
I will do my best to clarify your options. I want you in a position to either do it yourself, or you may chose to work with me as your student loan lawyer. If you choose to work with me, I will credit your consultation payment against your legal fee.
There is hope. First, you need reliable information about what can and can’t happen to you. You have options. You can control the process.
Recent graduate? Don’t wait for your grace period to end. If you aren’t employed, FANTASTIC! You can have a $0.00 monthly payment in a plan to have your Federal student loans and interest forgiven long before they are due in full. Your payment won’t increase until your income does. This is just one option.
Bend this time of low income to your advantage. Imagine sending in nothing, having it count as a payment, AND not push you to default. A deferment is not the same. Each month you keep your head in the sand and do nothing is costing you!
Call toll free 888-633-5426 ext 701 to schedule your consultation.