STUDENT LOAN DEBT . These days, Americans owe over a billion dollars on their student loans, and these debts are now bigger than our credit card, mortgage, and auto loan debt combined! If you are one of the over 40 million people that is struggling under the weight of their Student Loan Debt, it can be hard to know where to turn for help. Thankfully, you have more options than you may realize, in order to help you manage these financial obligations and save you money on interest over time. With the help of a qualified student loan attorney, you can get back on your feet again, and pave a sustainable path towards financial security.
Here are a few ways that a good attorney can help you manage your student loans:
1. Get loans out of default
If you are struggling financially and have fallen behind on your student loan payments, you may be put into default. To default on your student loans can be a serious issue, especially when it comes to your credit standing, but it can be challenging to know how to get out of default quickly and safely. With legal assistance, you can negotiate a plan to remove this delinquent status, and get back on track.
2. Lower your monthly payment
For many people on a tight budget, paying hundreds of dollars a month on student loans just isn’t feasible, but a lawyer can help you lower these payments to a more reasonable amount. By negotiating lower interest rates and/or an extended payment plan, you can save money over time and have a little more breathing room every month.
3. Settle your loan balance
Individuals in student loan debt often don’t realize that loan lenders may offer options for settlements, but these typically need to be handled by a qualified attorney. You may be able to settle your entire loan balance for a lower amount, and put your debts behind you faster than you had planned.
Dealing with the financial burden of educational loans can seriously restrict your ability to move upwards in the world and be a successful member of society. But thanks to student loan debt lawyers in Georgia, and across the country, people just like you are finally able to breathe a sigh of relief, knowing these debts can be managed and settled in more beneficial ways. If you need help with your Federal or private student loans, get in touch with us at Galler Law today and ask for your free student loan debt consultation.
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David Galler is an experienced bankruptcy attorney based in Atlanta, Georgia. For the last 29 years he has filed over 10,000 bankruptcy cases. He has a FIVE STAR client rating on Avvo, Kudzu.com, RateABiz.com, and Google+, among other sites. Over 99% of all Chapter 7 cases he filed have been discharged.