Long Beach Student Loan Debt Attorneys
Student Loan Debt Solutions in Southern California
The rapidly rising costs of a college education means students have been forced to take out larger loan amounts ever year in order to cover the expenses. As a result, student loans have rapidly risen to become the second largest form of debt in the country, trailing only mortgages in size. In 2014, 44 million American borrowers had approximately $1.3 billion in outstanding student loan debt, with more than 7 million of them in default.
What makes things worse: student loan debt is not normally dischargeable under current bankruptcy laws, meaning that even declaring bankruptcy won’t usually relieve you of your burden to repay these debts.
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It’s not uncommon for those with substantial outstanding student loan balances to face financial difficulties, but what can you do when those difficulties become just too much to bear? When bankruptcy isn’t usually an option, our team of Long Beach bankruptcy lawyers can put one of several options to work for you.
You can deal with the burden of student loan debt by:
- Loan forgiveness
- Loan deferment or forbearance
- Loan cancellation
- Loan reorganization
- Loan assistance
- Loan discharge for special circumstances
Using these options, our team of attorneys can work with you to create a solution that allows you to manage your student loan repayments, even changing your payments to make them more bearable on your current income level. Our team understands that an education shouldn’t cost you in the long run, and we strive to help financially-challenged individuals not have to feel the pain of the cost of their college education.
If you’re one of those millions of borrowers who is struggling financially and finding themselves in danger of defaulting on their student loans, you may be running out of time and options. Wadhwani & Shanfeld are here to help!
As Long Beach bankruptcy attorneys, our team is well-versed in finding the optimal solutions to your student loan issues that prevent you from defaulting and allow you to keep control over your debt. We understand that those who come to us are in need of a powerful and trustworthy ally they can rely on protect their rights and handle their worst financial issues. We use the fullest extent of the law to not only protect your rights as a consumer, but to help you regain control of your money and get back on the path to financial freedom.