Ebert Law Offices, P.C. offers help with student loan debt in Fort Worth, TX and the surrounding areas
If you are having a problem managing your student loan debt, you’re not alone. The fact is that one out of every five borrowers is having trouble repaying their student loans.
A tough economy and lackluster job growth has made it especially difficult even for students that graduated several years ago. Unfortunately, many college graduates took out higher interest private loans to pay for their education, but job prospects didn’t materialize as they had hoped or been led to believe. As a result, the national student loan debt has continued to increase as graduates look for help with their student loan debt.
Paying off student loan debt
There are two types of student loans; government and private. Government student loans are low interest loans that have a variety of payment options and are funded by the Federal government. On the other hand, private student loans are higher interest personal loans that offer very few payment options and are funded by private lenders such as banks and credit unions. If you have a private student loan, we may be able to help you get student loan debt relief through our student loan negotiation and debt settlement program.
Bankruptcy and student loan debt
Many borrowers are surprised to learn that unlike other types of debt, student loans generally cannot be discharged through bankruptcy. However, there are other options that may be available to you, depending on your situation, which can help you get some debt relief from an attorney-negotiated student debt settlement.
Student loan debt settlement program
If you qualify for our student loan debt settlement program our experienced attorneys will contact your lenders and negotiate a debt settlement with them on your behalf. This may include a reduction in interest, late charges and/or principal. Our goal is to provide our clients with relief by settling their debt with payments they can afford.
Student Loan Deferment vs. Forbearance
Some private lenders may offer loan student loan deferment and/or student loan forbearance for those that have a temporary loss of income. With student loan deferment, the lender will defer your payment for a period of time. Although you will not be required to make payments during the deferment period you will still be accruing interest. With student loan forbearance, the lender allows you to miss (forbear) a certain number of payments, usually three to six. Interest does not accrue during the forbearance period.