Student Loan Attorneys in Fort Lauderdale
Struggling With Your Loans? Call Loan Lawyers Today!
The rising costs of a college education means more students than ever are
forced to borrow money in order to complete their degrees. For some people,
this can mean incurring thousands of additional dollars in debt through
student loans, which creates a major financial hurdle that people must
overcome early in their working careers. Unfortunately this obstacle can
be too much to overcome if life takes a sudden turn for the worst or employment
is difficult to obtain. When this is the case, you might struggle to make
your student loan payments, which can place you in a difficult spot.
If you are struggling to pay your bills every month and your student loans
are continuing to pile on, you should discuss your legal debt relief options
with a Fort Lauderdale student loan lawyer today.
Loan Lawyers understands how stressful overwhelming debt can be, and can work with
you to develop a strategy to regain your financial independence and stop
the harassment from debt collectors. We believe that the cost of an education
shouldn’t ruin your financial future, and we do everything we can
to use the existing laws and programs to protect you and help you find
your way out. Our team can provide you with more than 100 years of combined
experience and a proven track record of success in nearly all consumer
financial law matters.
Get help with your student loan debt now! Call Loan Lawyers at 844-FIGHT-13
(844-344-4813) and request a
free case evaluation to learn more about your options!
Unlike other types of debts, such as credit card debt, mortgages, or car
loans, student loans
cannot be absolved by declaring bankruptcy. Repaying your student loans can be
a long and difficult process, but it’s important to remember that
you are not stuck in your financial situation—options exist that
allow you to modify or change your payment plan to become more manageable.
Some alternative repayment options for student loans include:
Income-based repayment (IBR): Also known as “pay as you earn” plans, these solutions allow
you to repay your student loans with an amount that is based on the amount
of money you take home through your employment. Ask your attorney about
these plans if you are an FFEL or Direct Loan borrower.
Income contingent repayment: For Direct Loan borrowers, these plans base their monthly payments on both
the outstanding loan amount and the borrower’s monthly income. Families
living at or below the poverty line could get payments for as low as $0
Perkins repayment plans: Perkins loans are different from Direct or FFEL plans in that they have
minimum monthly payments (most likely $40 per month). Talk to your attorney
to learn more about these loans and repayment options.
Standard, graduated & extended repayment: These plans are chosen for you if you do not indicate a different payment
plan when notified by the Department of Education. Standard plans generally
require a common installment every month, graduated plans start with low
payments and slowly increase as the loan nears completion), and extended
plans are options available for those with significant debt of $30,000
or more. Ask your attorney about these options to learn more.
Private loan repayment: If you have accepted a student loan from a private creditor, odds are
repayment plans are considered on a case-by-case basis. You’ll probably
want to discuss your options with your attorney, as your creditor probably
doesn’t make repayment options public and may be difficult to work with.
Don’t live with the stress of your student loan debt any longer;
contact Loan Lawyers today and start developing a strategy for regaining your financial freedom!