Deep in student loan debt? We help find legal solutions.
A typical college undergraduate degree takes four years but paying off student loans often takes much longer. If you are behind on loan payments or cannot pay your bills, call Luftman, Heck & Associates, LLP. Our Cleveland student loan attorneys work with public and private lenders to find the best student loan debt option for you.
Call LHA at 216-586-6600 for a free consultation. Tell us about your situation – what you owe, what you currently earn – and learn how a student loan lawyer may help.
Luftman, Heck & Associates, LLP
Cleveland Bankruptcy Attorneys
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How a Student Loan Lawyer Can Help You
It seems overwhelming when you struggle to pay student loans, along with rent and other necessary expenses – all on the starting salary of a recent college graduate. You want to avoid defaulting if you’re building credit to buy a car or a house.
A student loan lawyer with LHA helps you find a practical, affordable solution. Our student loan attorneys have a deep understanding of lending and bankruptcy laws. We might obtain student loan forgiveness or student loan deferment options, depending on your situation.
Affordable, Practical Solutions to Student Loan Debt
You might think that you are doing the right thing by making the minimum payment. While paying the minimum monthly amount keeps the collection agencies away, you could be making your financial crisis even worse. That’s because you pay more interest at the start of your loan payment without making a significant dent in the principal.
A student loan lawyer with LHA creates more affordable solutions, including:
Negotiating a Lower Monthly Payment or a Settlement
Most lenders are willing to discuss lower monthly payments or even a settlement. They would rather have you pay a smaller amount instead of nothing at all. A lawyer negotiates with public and private lenders for student loan consolidation.
Identifying Potential Fraudulent Lenders or Conditions
A Cleveland student loan lawyer reviews your student loan documents, including terms and conditions. If a lender defrauded you or acted unlawfully, we can seek to cancel or discharge your loan.
Halting Wage Garnishment by Private Lenders
Private lenders cannot garnish your wages without a court order. They also may not send collection agencies after you without proper notification. Although the rules for wage garnishment and other debt collection are different for federal student loans, you still have certain rights.
Some federal student loan collections are temporarily suspended due to the COVID-19 pandemic. As of right now, it looks like that suspension will be ending in January of 2022.
Seeking Student Loan Forgiveness Opportunities
You might be eligible for the Public Service Loan Forgiveness program offered by the U.S. Department of Education. You could have your loans forgiven when you work for a non-profit agency or the government – federal, state, local, and tribal.
Protecting Your Rights in a Student Loan Lawsuit
A student loan attorney protects your rights if a lender takes you to court for multiple missed payments. We can seek a settlement that works with your current income and budget.
Filing for Bankruptcy on Your Behalf
When consolidating payments and refinancing are not enough, a lawyer with LHA guides you through the bankruptcy process. You cannot always discharge student loan debt, but we work to find the best outcome that you can afford.
When to Hire a Student Loan Attorney
The fact that you are reading this web page about student loan options indicates that your situation is at a critical point. If you are being pursued by collection agencies, facing a lawsuit, or considering bankruptcy, let our student loan attorneys help. We protect your rights as we negotiate or litigate on your behalf.
Seek Help During Your Grace Period
Most student lenders allow a grace period between your graduation and your first required loan payment. The grace period is typically about six months, although you may have less time if you drop below full-time student status.
We suggest talking to a student loan attorney before your grace period expires. Our student loan attorneys help you understand your debt relief options to make an informed decision about your next steps.
Explore Student Loan Bankruptcy as an Option
Unlike other forms of debt, student loans are not usually discharged in bankruptcy. There are exceptions. A student loan lawyer reviews your case to determine if you qualify under certain conditions, such as:
- You fall below the poverty line or beneath the minimum standard of living.
- You cannot afford to pay even the minimum amount.
- You made some payments in good faith while seeking refinancing options.
Most people are not prepared to represent themselves in bankruptcy court. A student loan lawyer fights on your behalf for the best possible legal outcome.
What Happens if You Default on Student Loan Debt
Student loan debt is the highest it has ever been. According to the U.S. Federal Reserve, student loan debt reached $1.7 trillion at the start of 2020.
Our student loan attorneys want to help you get out of debt and find a way to resolve your student loan obligations. There are legal and financial consequences if you default on student loan debt, including:
- Constant harassment by creditors and debt collection agencies
- Debt collection lawsuit by the government or private lenders
- Negative effect on your credit score that lasts for years
A Cleveland student loan lawyer could save you time, money, and stress with practical student loan debt options.
FAQs about Student Loan Attorneys
I’m a Teacher. Is It Possible for Me To Have My Student Loan Forgiven?
Under specific parameters, it is possible to have a portion of your loans forgiven for your service as a teacher. However, a student loan lawyer needs to review your case to see if you qualify.
How Can I Afford a Student Loan Attorney When I’m Already in Debt?
Hiring a student loan attorney might save you money long-term when you consider that they could negotiate for lower payments, consolidation, or settlements. You’ll also have peace of mind that you no longer must deal with creditors or debt collection agencies.
Does Bankruptcy Wipe Out My Student Loan Debt?
There are specific circumstances in which you could discharge or eliminate student loan debt when you declare bankruptcy. Call LHA for a free consultation to learn more.
Can You Help Me With a Payment Reduction or Student Loan Deferment?
A student loan lawyer may negotiate for lower payments or a deferment until you are more financially stable.
Have Student Loan Debt? Call Today for a Free Consultation
Call Luftman, Heck & Associates at 216-586-6600 for a free consultation.