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The Student Loan Problem

It was announced today that United State’s student loan debt is over a trillion dollars.

This is staggering.

Worse news for consumers of student loans is that if you default you are in real trouble.  Student loan debt is virtually non-dischargable and  the collection practices are coming under scrutiny as “something that would make a mafia collector blush”.  These are companies that can charge extortion level collection fees and government lenders can garnish and levy upon funds that no other creditor out there can.

Basically, you have to pay these loans unless Congress takes a very drastic position and actually adopts one of the many student loan forgiveness programs that have been presented to it over the years.   So you ask why is a personal bankruptcy attorney telling you that you can’t be helped…well that is because you can.

I may not be able to rid you of your student loans but I can help you with one of the side effects of the student loan problem.  The San Francisco Chronicle cited “Taking Time To Pay Off Consumer Debts” as one of the troublesome side effects of high student loan debt.  Consumers are carrying higher balances and paying higher interest rates on credit cards because they have to pay the student loans first.  We can solve that problem.

In a personal bankruptcy case we can discharge credit card debt, personal loans, and lines of credit you may have accumulated in college so that you can afford to pay your student loans.  I know that this may not feel like much comfort when you are strapped for cash thanks to your student loans but believe me it can help.

Have more questions about how we can help you with your financial issues?  Call us at 732-302-9600 or fill out 5 minute online consultation and we will call you.