Can't Make Your Student Loan Payments in California?

Life comes with many obstacles and bumps in the road. Unfortunately, one significantly common and huge obstacle many Americans face is the repayment of their student loan obligations. When the majority of people initially signed up to collect financial aid payments or agreed to the stipulations of a student loan, it is reasonable to believe that they were predicting that their financial life post-graduation would be smooth and filled with lots of money. However, people unfortunately have realized that life comes with many twists and turns.

It has been estimated that at any given time, 15% of active student loans are in default. Default is considered when a person is 9 months behind on the payments; prior to 9 months, they are delinquent. That is a staggering number when you consider how many student loans are actually out there. Defaulting on student loans can have immense negative impact on your financial future.

What Can Happen If You Default On Your Student Loans?

  1. Decrease in Credit Score – Defaulting on your student loans cause your credit score to decrease, which increases the risk to future borrowers. Thus, this effects your ability to buy a home, buy a car, or obtaining any other sort of credit.
  2. Facing Legal Ramifications – If you default on your student loan, the lender can file a civil lawsuit against you and ultimately receive a Judgement against you, allowing them to garnish your wages, levy your bank account, and/or put a lien on your assets.
  3. Losing Future Eligibility – Being in default on your student loans puts potential future student loans at risk.
  4. Puts Entire Balance Due Immediately – Going into default can potentially trigger your entire loan balance to come due right away.
  5. Schools Withholding Certain Information – Depending on the school, schools are authorized to withhold proof of attendance if you go into default on student loans.

How Can We Help?

Our dedicated team is able to help you uncover options that you never knew were available to you. Our team is able to analyze each of the nine various federal repayment options that give you plans for possibly recalculating and/or forgiving a certain amount of the actual student loan debt.

Having over 12 years of dedicated experience helping people navigate extremely difficult and stressful financial times, our team is highly qualified and uniquely suited to analyze your financial picture and help make a determination of your eligibility into specific federal programs.

Management Process for Student Loans

Ongoing Program Requirements

Assuming a client retains our office and applies and is approved for an authorized federal program, that client will be required to “recertify” proof of income on an annual basis to the servicer of the student loan. Our team can ensure you are notified of this requirement each year and assist you in completing that recertification process so you avoid being in default of the ongoing program.

Management Programs for Student Loan Debt

After a detailed analysis of your records dealing with the student loan debt, financial picture, and current income, our dedicated team can determine your eligibility into the nine federally approved repayment programs for your student loans. With each program, details differ on how they consolidate, restructure, or even forgive the student loan debt.

The report that our experienced attorneys will create for you will contain detailed information to properly advise you on your options and ultimately guide you into ensuring you take your financial profile in your own hands.

Resolution Programs Based on Qualification

Keep the Repayments Affordable

Lessen the monthly payment expense based on your income, not the amount of the debt, so the monthly payment will continually remain affordable.

Student Loan Forgiveness

Make a determination of whether you qualify to have the federal government forgive a portion, or all, of your federal student loans.

Default Resolution

Consolidate all of your federal defaulted student loans into a new student loan, which would cure any of the existing defaults.

Consolidate Your Payment

Consolidate each and every one of your federal student loans into one single loan with one simple monthly payment to a single loan servicer of your choice.

What’s the First Step?

The initial and most crucial step is to contact our office. Our dedicated student loan attorney with over 12 years of experience helping families dealing with financial hardships, will ultimately do a detailed analysis of your student loan debt. Once the analysis has been completed, you will be provided with a detailed report discussed your options based on the qualification factors required by the Federal Government and Department of Education. Once you have all of this information, our knowledgeable attorney will discuss options with you. If you ultimately choose to move forward at that point, our team will help you complete the application in a streamlined fashion and submit it to the proper loan servicer.

What Should You Do Now?

You need to make the commitment to handling your student loan debt responsible moving forward. Unfortunately for a lot of people, that has caused them to give up their qualify of life, lose their peace of mind, and ultimately fail in their efforts to repaying the student loan debt. We can help you change that and get back on track!

Please contact our experienced bankruptcy lawyer at 916-800-7690 or by clicking HERE to schedule a confidential student loan appointment with highly experienced attorney Pauldeep Bains.

Free Consultation

Here at Sacramento Bankruptcy Lawyer, we set ourselves apart from other firms because we provide direct client to attorney contact from the initial consultation all the way through the discharge in your particular case. We will not pawn your case off to a staff member at any point through the process. When you call Sacramento Bankruptcy Lawyer, you WILL speak with local Sacramento Bankruptcy Lawyer Pauldeep Bains. Please call Sacramento Bankruptcy Lawyer ASAP at 916-800-7690 to schedule your FREE in-person or phone consultation with Pauldeep Bains and let Sacramento Bankruptcy Lawyer begin getting you the fresh start that you deserve.