So What is a Student Loan Lawyer?
A student loan lawyer is an attorney with advanced knowledge of student loan law, which includes the law for federal student loans, private student loans, and, occasionally, bankruptcy. They are uniquely situated to give legal advice on complex student loan problems. They understand how the student loan process works, what rights borrowers have and can provide sound legal options to move forward.
WHAT IS THE DIFFERENCE BETWEEN STUDENT LOAN LAWYERS AND STUDENT LOAN DEBT RELIEF AGENCIES
Many companies out there claim that they can help you with your student loans. In return for a fee, they promise to consolidate your loans or reduce your payments. These student loan debt relief companies are often expensive. Many of the services they offer — such as reducing your monthly payment by signing up for an income-driven repayment plan — are things you can do for yourself for free.
Student loan lawyers are quite different from student loan debt relief agencies. While student loan attorneys will charge you a fee for their service, they provide essential assistance rather than doing what you could easily do yourself.
HOW CAN A STUDENT LOAN LAWYER HELP YOU?
Our student loan lawyers can analyze your loans and provide you with the knowledge and tools to understand and take control of your student loan debt. We can even help you re-certify your loans on an annual basis and make sure you are in the correct forgiveness program. In addition, our lawyers can: Stop collection activity: federal law allows the federal government to send wage garnishment orders and take your tax refund and Social Security Benefits without a court order.
The COVID-19/Coronavirus forbearance has temporarily suspended collection activities through September 2021. Ensure the eligibility for loan forgiveness programs: thousands of public service workers (teachers, corrections officers, etc.) were denied student loan forgiveness because they didn’t meet the technical criteria of the Public Service Loan Forgiveness Program (PSLF). A student loan lawyer can review your loans and develop a strategy to maximize your eligibility for loan forgiveness. Lower monthly payments: forbearance and deferment are temporary. At some point, they’ll end and you’ll need help getting an affordable repayment plan.
THE STUDENT LOAN MODIFICATION PROCESS
If you are in default on your student loans, you are not alone. We can help you if you are in default on a student loan. We can help get you into a qualified debt repayment plan (many times at $0.00 per month based on your income).
We offer a free consultation for individuals in Georgia and you can meet with an experienced Georgia student loan lawyer virtually over your phone or computer.
If you already have Federal Student Loans please go to https://studentloans.gov/ and create a FSA ID and then generate a print-out of your student loan details. We will need this information to start the loan analysis process.
DIFFERENT TYPES OF STUDENT LOANS
Stafford loans are available subsidized and unsubsidized. With subsidized Stafford loans, the government will pay the interest during your deferment. If the loan is unsubsidized, interest will continue to accrue during the deferment periods.
PLUS loans are the only federal loans that require good credit. These loans are taken out by parents for their children in undergraduate programs or graduate students.
The funds for Perkins loans come directly from schools. Schools can hire debt collectors to collect late Perkins loan repayments or transfer the collection responsibilities to the Department of Education.
ARE MY STUDENT LOANS PRIVATE OR FEDERAL?
The first step in analyzing your student loan modification/forgiveness options is to determine whether their student loans are federal or private. Federally backed student loans are guaranteed by the United States government.
Federal loans include FFELP Stafford loans (both subsidized and unsubsidized), PLUS loans, Perkins loans, and Direct loans. If you are being contacted by collection agencies to rehabilitate or consolidate your loans, then you most likely have a federal loan.
If you have received a notice of a wage garnishment to garnish your paycheck and were never served with a notice of a lawsuit then you are dealing with a federal loan. If a student loan creditor files a lawsuit against you then you are probably dealing with a private student loan.
For many people, it has been years since they signed their original student loan contracts so it can be confusing trying to figure out who owns your loans and what type of loans you even have.
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