After graduation from college or grad school one of the realities that sets in, after looking for work in your field and possibly relocating, is the fact that money you borrowed to get you through your education, cover tuition, books and living expenses now must be paid back.
Student Loan Debt Relief — Gwinnett County, Georgia, Legal Aid
In general, student loans are low interest and can be paid over a period of several years. Yet, when other debts mount, student loans can contribute significantly to your debt to income ratio, making daily living difficult if not near impossible.
Student Loans — Non-Dischargeable Debt
Student loans are considered non-dischargeable debt. Given their relative low-interest rates, relaxed repayment schedules and the fact that they are often federally insured, there is little wonder that this is the case. Nevertheless, significant student loans and high monthly payments may leave you wondering how to pay other bills or make ends meet month to month.
Exceptions to the Rule
While in most cases student loans cannot be discharged, there are exceptions. If you can prove significant economic hardship, you may be able to have your student loans diminished or eliminated.
Perhaps the best way to address student loans is to remove other financial obligations through bankruptcy. Once credit card, medical and other debts are either liquidated or diminished, you can devote more attention to making regular student loan payments. Speaking with attorney George Belche about your financial issues is a great first step toward climbing out of significant debt.
Get out from under the weight of financial pressure. At the firm of George R. Belche, Attorney at Law, we have been helping clients file for bankruptcy for 15 years. We look forward to helping you through the bankruptcy process from beginning to end. Contact us today for a free initial consultation.
"We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code."