Student Loan Debt Crisis

The New York Times recently reported that student loan debt has exceeded $1 trillion. Student debt and the lack of job prospects cause many graduates to delay making major purchases, such as homes and cars. Experts say this decrease in consumer spending acts as a drag on the economy.

With the rising cost of education, The Pew Research Institute estimates that 40% of households headed by adults 35 or younger have student debt. It's not surprising that economists say young adults with student loan debt have more difficulty qualifying for mortgages and saving for down payments.

Student borrowers will have an even tougher time tackling their debt with interest rates scheduled to double on July 1, from 3.4 to 6.8%. Some members of Congress are working to prevent this increase. Senator Elizabeth Warren, of Massachusetts, has proposed a bill that would allow students to borrow at an interest rate of 0.75%. This is the same rate offered by the government to big banks.

If you are struggling with student loans and credit card debt, a bankruptcy attorney may be able to help you get a handle on your finances. There are special rules that apply to the treatment of student loans in bankruptcy, so it's important to speak with an experienced attorney. To schedule a consultation to find out how we can help, please call 619-295-3322.

D.J. Rausa

With over 21 years of experience as a consumer bankruptcy attorney, D.J. Rausa stays on the cutting edge of Bankruptcy and Student Loan Law which enables him to provide vital information to his clients.

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

I had three choices: two large groups, or Mr. Rausa. I chose Mr. Rausa because of his 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. Mr. Rausa 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 Mr. Rausa. I wish I could recommend 10 stars.

Posted by a client - September 25, 2018

AVVO Lawyer Rating is Superb!

Respected Legal Source

D.J. Rausa interviewed by the Wall Street Journal for article on Bankruptcy and Student Loan Debt.

Debt Doc's D.J. Rausa is recognized as a legal expert in Student Loan Debt Resolution and the associated Bankruptcy Laws.

Read what D.J. recently told The Wall Street Journal regarding the probable rise in Student Loan Debt Resolution through Bankruptcy.

Client Testimonial

To whom it may concern,
Debt Doc'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 DJ Rausa at Debt Doc and found him to be courteous, responsive and quick to assess my situation. He was sure he could help and took time to answer all questions, which relieved much anxiety. Within months he successfully resolved the debt! With much confidence, I highly recommend Mr. Rausa.
Please contact me if you have any additional questions.
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