More than almost any other type of debt, people with student loans tend to bury their heads in the sand because they truly believe there is nothing they can do. They have heard these loans are not dischargeable in bankruptcy. Moreover, they went to school in hopes of increasing their earning potential. In difficult economic times, that isn’t always what happens, but now they are stuck with loans they can’t afford because the future was supposed to be different.
What’s worse, certain student loans have the ability to garnish wages without a typical court hearing, intercept tax refunds and even offset Social Security income. Such strong remedies can make people feel like they have absolutely no control over this type of debt. The fact is, most people don’t have any idea what, if anything, they can do about student loans. Many people don’t even know who their loan provider is, let alone what their payments are based on. At Surf City Lawyers, we don’t shy away from people with significant student loans. Rather, we educate ourselves on what can be done about them, so we can pass that information on to you. Our goal is to demystify student loans — what can and cannot happen, what options you have, and how to deal with your loans to put you in control.
First, you’ll need to know whether your loans are federal or private student loans. All federal student loans will be listed in the National Student Loan Data System (“NSLDS”), click here. You’ll need a PIN to gain access and should never give that PIN to anyone who promises to help you. You’ll only find federal student loans in this data system. Private student loans will only be found on credit reports.
After you’ve determined what type of loan you have, you can gain some useful information about payment plans by visiting the Student Loan Borrower Assistance website, click here. Check out the section on repayment plans, to see if you qualify to lower your student loan payments and get off the cycle of forbearance and deferment, which only increases your balance over time.
If you find yourself still unable to afford any repayment plan and can no longer keep your loans in forbearance and deferment, then you should contact us for further assistance.
If you are:
Here are just some of the services we offer:
If you find yourself in any of these situations, please contact us by calling 714-533-9210. We will obtain some preliminary information from you and then set up a 15-minute phone consultation to discuss all of the options available to you. In other words, if we think there is something we can help with, you will know by the end of that conversation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.