Finding Relief From Unmanageable Student Loans

From childhood we are told, "Work hard, get an education and you will be successful." Unfortunately, for many, that advice is not sounding true. The cost of higher education continues to skyrocket. Many college or technical school graduates find themselves unable to get employment in the fields in which they were trained, or working in professions that pay far below what is needed to repay their loans and support themselves. The burden of their student loans often dictates their economic future.

There is currently more than $1.2 trillion in outstanding federal educational loans.

Federal student loans are one of the leading sources of debt in the United States - second only to mortgages. One in five households owes on student loans. There is help for dealing with the restructuring, consolidation and/or discharge of your student loans.

At the law office of Lewis & Monroe, PLLC, we can help relieve your burden of dealing with the administrative process provided by law and, if needed, legal representation through bankruptcy.

Many Federal Loans Can Be Put Into Repayment Programs, Consolidation Or Be Discharged

There are several student loan programs, including but not limited to Direct Stafford Loans, Perkins Loans, Direct Consolidated Loans, Federal Family Education Loan Program (FFEL), Student Plus, Parent Plus, SLS (pre 1994 unsubsidized Standard loans), Joint Consolidated (husband and wife ) and HEAL loans.

Determining which types of student loans you have and navigating through the 11 types of federal loans and the nine repayment options can be a daunting task. Let our attorneys analyze your loans and come up with options, including repayment programs, consolidation and discharge of the debt.

Student Loan Default And Garnishments

Do not let yourself go into default by becoming over 270 days late. This could result in an administrative garnishment of wages, income tax refunds or Social Security Income.

If you have received notice of garnishment please contact our offices immediately. Your rights under an administrative garnishment are time-sensitive. With correct guidance you may be able to rehabilitate the loan and cure the default. This will allow you to get into programs where the payment is reasonable based upon your income or discharged because of your personal circumstances.

Student Loan Discharge

Under the right circumstances student loans may be discharged administratively or through the bankruptcy process. If you have been awarded Social Security Disability, Supplemental Security Insurance benefits, or have been determined by the Secretary of Veteran Affairs to be unemployable due to service-connected conditions, you may be eligible for a discharge of your student loans. You also may qualify for cancelation of your student loans if you are a public service employee. There is also relief for individuals to discharge student loans under the Bankruptcy Code if they can show undue hardship.

Finding Relief From Student Loans

At the law office of Lewis & Monroe, PLLC, our lawyers have successfully helped individuals restructure, reduce payments or eliminate their student loan debt through bankruptcy and other administrative procedures. We will review your circumstances and develop a plan to cure defaults, rehabilitate your loans, manage your debt through a repayment plan or, when possible, discharge your loan debt.

You don't have to spend another day burdened by the weight of student loans. To discuss your situation in detail, call our office at 407-917-4147 or contact us online. Consultations are free.

We are a debt relief agency. We counsel clients according to federal bankruptcy code.