Displaying items by tag: student loan debt relief

Student Loan Debt

People in debt commonly justify their student loan debt, saying that they will be in a position to spend down their debts after they graduate and begin working full-time.

However, credit card debts and automobile loan debts are considered bad debt. They don’t add financial value to your life such as by increasing your web worth or your earning power.

High levels of debt – especially bad debt – at more youthful ages are leading much more pupils and young individuals to the bankruptcy courts.

Before filing for bankruptcy, youthful consumers may want to look into debt combination and debt settlement, which can enhance their monetary standing.

In debt combination, all or several of your debts are rolled into one. You’ll nevertheless owe the exact same amount of money, but you’ll be accountable for simply one bill each month, making your debt payments easier and more manageable. It can additionally conserve you cash in interest over time.

Financial obligation settlement decreases the amount you owe through negotiations with your loan providers. You can get a debt settlement business to negotiate on your behalf, or you can negotiate directly with your creditors. A successful settlement can conserve you cash.

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Student Debt Forgiveness

Federal Student Loan Debt Consolidation Programs:

  • The Standard Repayment Program
  • The Graduated Repayment Program
  • The Income Contingent Program
  • The Income Based Repayment Program

Each of these programs offered by the Department of Education is intended to consolidate federal student loans into a single student loan and one payment. These programs are also made to fit the needs of those students who are struggling to pay their federal student loans and give them payment relief. New low monthly payments are calculated considering income and one's family size. The lower your income, the lower the loan payment will be. These programs are often effective because they assess each individual situation and offer a monthly payment agreement that corresponds to the person's current situation. You can’t beat that program and with an additional consideration of the needs of your family and family size, federal student loan debt consolidations are a solid option.

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Federal Student Loan

Subsidized and unsubsidized student loans are federal student loans that are made for students to help cover the financial costs of a higher education at a 4 year college or university, community college, trade school, career, or technical school. The United States Department of Education offers eligible students who attend participating schools Direct Subsidized Loans and Direct Unsubsidized Loans.

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Debt Relief San Diego

Are you burdened by debt? You are not alone. Consumer debt is reaching an all time high. Whether your debt problem is the result of a sickness, unemployment, or just overspending, it can feel overwhelming. In your effort to get out of debt, be on alert for advertisements offering seemingly quick fixes. While the adverts promise debt relief, they rarely tell you what they mean is BANKRUPTCY. And though bankruptcy is an option to deal with financial problems, it is generally considered the last resort option. Here is the reason: its long-term negative impact on your credit. Bankruptcy info (both the date of your filing and the later date of discharge) stays with your credit report for 10 years, and will hinder your ability to obtain credit, a job, insurance, or even a place to live.

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Student Loan

The common misperception that once a student takes out a student loan, they are obligated to pay it all back no matter what the circumstances are. This is not completely true. While a lot student loan debt may not be forgiven through bankruptcy, attorney Chris Bush at DebtDoc may have many ideas to help you reduce or get rid of your debt.

However, it is still important to note that the process of relieving student loan debt is different from the process of discharging other types of debt and will require a very detailed analysis of the many types of student loans as well as an examination of the history of the loans.

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Student Loan Consolidation

Student Loan Consolidation can be the right option if you:

Have loans with multiple lenders
Have a lot of student loan debt
Posess more than one type of federal loan
You have loans with variable interest rates
You have trouble paying the amount due on loans and need to organize a lower payment

Realize there are many advantages and disadvantages to a student loan consolidation.

One servicer, one bill, one payment
Lower monthly payments
Fixed interest rate

More monthly payments
More interest to pay
Loss of loan incentives

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Federal Student Loans

Federal student loans are loans that must be repaid, plus an agreed upon interest rate. New federal student loans are run through the Federal Direct Loan Program (FDLP). An FDLP student loan is originally borrowed from or currently owned by the Department of Education. Any federal student loan borrowed after June 2010 are FDLP loans, though the barrower of the student loan could receive FDLP loans before that time.

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Debt Consolidation

If you are interested in a debt consolidation plan you will be able to combine most, if not your complete unsecured debt and make one simple monthly payment. The debt accounts will still exist, but will be paid monthly through your account. You may find that by engaging in a debt consolidation program you will become much more organized and accurately know your financial obligations for each month. Debt consolidation can also lower one's monthly payments.

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Student Loans

Student loans are very difficult, but not entirely impossible to discharge in bankruptcy.  To do this, you must prove that the payment of the debt “will impose an unwelcome and undue hardship.”

Courts use different criteria to evaluate whether a particular owner of debt has shown an undue hardship. If you can, with success, prove you have an undue hardship, your student loan can be completely canceled. Filing for bankruptcy to help with your student loan debt also automatically protects you from collection actions on all of your debts, or at least until the bankruptcy case is resolved or at least until the debt creditor gets permission from the court to resume collection again.

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Financial Aid

Obtaining financial aid can be a daunting task. If a student looking for financial aid doesn't get guidance from a counselor or older sibling who is currently on a college campus somewhere, it can be extremely difficult to figure out how to find a starting point. There is good news. Chris Bush is here to help. With just a little research and an introduction to the basics of financial aid, you'll be using even the most obscure financial aid acronyms with ease.

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Auto Loan Delinquency Rising

Late Car Payments?

The number of people 90 days late in car payments approaching peak levels since the subprime crisis of 2010.

If you’re late on your car payments, come in for a Chapter 13 consultation!

Compassionate. No-nonsense. Great job. Saved me $85K!

I had three choices: two large groups, or DebtDoc. I chose DebtDoc because of their numerous excellent reviews from clients as well as other attorneys. Also, I wanted someone to provide personal service and have a vested interest in my difficult student loan case.

I certainly made the right choice. DebtDoc's attorneys personally answered two of my phone calls and regularly answered my emails, even on one Sunday evening.

After 30 years of student loan "prison", he got me freedom AND he even got the US Dept. of Justice to dismiss 25% of my loans, which saved me $85K.

I feel like I have a new lease on life because of DebtDoc. I wish I could recommend 10 stars.

Client Testimonial

To whom it may concern,
DebtDoc's attorneys are extremely knowledgeable with the complexities of Federal Student Loans.
I went from a thriving career to full medical disability, ending with an SSDI placement. Unfortunately, I lost everything and became unable to continue making the student loan payments, so it was in deferment for over five years. When the SSDI settled I tried to negotiate an affordable payment plan with the loan holders but they refused my efforts, instead demanding over twice the amount I could afford.
I contacted DebtDoc and found them to be courteous, responsive and quick to assess my situation. They were sure they could help and took time to answer all questions, which relieved much anxiety. Within months they successfully resolved the debt! With much confidence, I highly recommend DebtDoc.

Clients with Student Loan Debt

Clients with Student Loans

Some information I need to evaluate your Student Loan options is contained in your National Student Loan Data System Report. Instructions for obtaining this report are available on my web site at sandiegostudentloanlawyer.com/nslds-report. Simply print/save the reports as a PDF, of all pages. Please DO NOT "DOWNLOAD" THE REPORT from the link - this creates a text file that is very difficult to read; please print the web page as a PDF file - the summary page of all loans AND the individual reports for each loan. Samples of these pages can be viewed by clicking the respective links in the previous sentence. I look forward to reviewing this report with you and assisting you with the management of your Student Loan debt.

I have prepared a brief questionnaire for you to fill out to provide me most of the information I will need. Please click this questionnaire link and provide me with the information listed. I would also like to see copies of your most recent pay stubs or other income information.

My office is located at 2727 Camino Del Rio South, Suite 135, San Diego, CA 92108. The main entrance to the building is on the right/west side. I am on the first floor; when you enter the building, turn right and I’m in the suite at the second door on the left. If the suite door is locked, please call or text at 619-678-1134 and I will let you in. (Unfortunately, I usually can’t hear a knock at that door.) I look forward to meeting with you and assisting you on your path back to financial freedom.