It is not unusual for graduates to have trouble making their student loan payments. Some repayment terms have massive principles that often require up to 60% of a graduate’s income. When you factor in high interest rates, it’s no wonder that one out of every 10 Americans defaults on a student loan
Whether you’re deep in debt or struggling to stay up with bills, there’s a solution to your financial situation. The Cleveland Bankruptcy attorneys have the knowledge and experience to fight for your best interest. Contact a Cleveland Bankruptcy attorney today to discuss your options at (216) 586-6600.
What Is the Difference Between Student Loan Discharge and Forgiveness?
If you can’t make your student loan payments, you’re not alone. Millions of people are behind on their loans or have defaulted on them, and the numbers continue to increase as college costs rise and outstanding student debt grows. As of the end of 2018, student debt nationwide was at an astronomical $1.46 trillion, according to the Federal Reserve Bank of New York. Student debt in Ohio alone is in Read More
Settlement Obtained in Student Loan Wage Garnishment Case
Recently, an individual found themselves in a difficult situation after defaulting on a student loan. Her lender garnished her paycheck, despite her compliance with the details of a repayment plan. Wanting to get those funds back, and to avoid further wage garnishment, she reached out to the Cleveland student loan attorneys at Cleveland Bankruptcy Attorneys for help. Cleveland Bankruptcy Attorneys quickly got to work on the case. Due to this Read More
Repayment Plan Put in Place in Case Involving Multiple Loans
Recently, a client of Cleveland Bankruptcy Attorneys found himself in need of help when loans his mother co-signed for (and took out in his name) were catching up to him and his family. Initially, the client’s mother co-signed on a student loan that would help pay for his education. Additionally, she took out a loan in her own name to help with any additional expenses for the client. Worried that Read More
What Happens to Student Loans in a Bankruptcy?
Student loan debt is more difficult than most debt to discharge. It also ranks second among causes of consumer debt, behind mortgages and ahead of credit cards with over 44 million U.S. borrowers owing roughly one and a half trillion dollars in student loans. What separates student loans from other forms of debt has traditionally been bankruptcy; while credit card and mortgage debt are discharged in bankruptcy, student loan debt Read More