When you meet with us, we will listen to your concerns and explore all your debt relief options. We understand that student loans are meant to be a stepping stone toward a better future, not a stumbling block. Let our experienced team help you get back on track so you can move forward with confidence. Contact us today for a consultation or complete the Federal Student Loan Intake Form.
Helping Alabamians Work Out Student Loans
Not paying back your student loans is not an option. While it may be possible to discharge these debts through a bankruptcy filing, it is challenging (see below). By failing to make timely payments, interest will continue to accrue, making your student loan burden more unmanageable.
If you find yourself in this situation, turn to Pleasant Legal Solutions. You can depend on us to assess your financial circumstances and determine the best approach to paying down the debt. Potential solutions include:
Student Loan Consolidation
Debt consolidation is one of the most common ways to manage student loans. In this process, multiple student loans are combined into a single loan with one monthly payment. Consolidating your student loans can simplify tracking and making payments. Key benefits of debt consolidation include:
- Lower monthly payments
- Fixed interest rate
- One monthly payment
Consolidating your student loans and making timely payments will position you to pay off the debt and improve your credit score. At Pleasant Legal Solutions, we have helped numerous individuals like you find their way out of student loan debt. Let us help you too.
Student Loan Forgiveness
“Forgiveness” is another option for restructuring student loan debt. Federal and state student loan forgiveness programs “forgive” a portion of your debt in exchange for working in a specific field or meeting other conditions. Options for forgiveness include:
- Public service loan forgiveness—If you work in public service, such as government or nonprofit organizations, you may qualify for Public Service Loan Forgiveness (PSLF). After making 120 monthly payments, the remaining balance on your Direct Loans is forgiven.
- Teacher loan forgiveness—Teachers who work in low-income schools or educational service agencies may be eligible for Teacher Loan Forgiveness. Up to $17,500 on your Direct Subsidized and Unsubsidized Loans, and your Subsidized and Unsubsidized Federal Stafford Loans may be forgiven.
- Perkins loan cancellation—Individuals working in certain professions, such as teaching, law enforcement, and nursing, might qualify for Perkins Loan Cancellation. This program allows for canceling up to 100 percent of a Perkins Loan over five years.
- Income-driven repayment plan forgiveness—IDR plans base your monthly loan payments on your income and family size. If you remain on an IDR plan for 20 or 25 years, depending on the plan, any remaining loan balance could be forgiven.
Our student debt relief attorneys can help determine your eligibility for loan forgiveness, assist with the application, and protect your financial future.
Student Loan Rehabilatation
If you have defaulted on your student loans, rehabilitation provides a path to make them current and avoid wage garnishment and other consequences. You must make nine qualifying payments within ten months to rehabilitate your student loan. Rehabilitating your student loan offers several benefits, such as:
- Stopping wage garnishment
- Removing default status from credit reports
- Restoring access to deferment and forbearance
- Regaining eligibility for financial aid
Let Pleasant Legal Solutions show you how to rehabilitate your student loan.
Student Loan Bankruptcy
While it is possible to discharge student loan debt through bankruptcy, it isn’t easy. You must prove that repaying your student loans would cause “undue hardship.” This typically requires filing an adversary proceeding and presenting evidence to the court.
That’s where our team can assist you. We have the knowledge and experience to help you build a strong case. Our team can help determine whether bankruptcy is right for you and guide you on discharging your student loans.
How Our Firm Can Help
At Pleasant Legal Solutions, we understand the stress and anxiety that delinquent student loan debt can cause. Our legal team is here to provide personalized support and help you find debt relief. We will work closely with you to develop a tailored strategy for your unique needs and financial goals. Trust us to help determine your eligibility for various forgiveness programs and guide you through the application process. With our student loan debt relief attorneys, you can be confident that you are taking steps toward achieving financial freedom.
Student Loan Debt Relief Starts Here
If you are struggling with student loan debt, don’t wait for a government bailout that may never come. Talk to an attorney at Pleasant Legal Solutions about your debt relief options. Contact us today.