At Helfand and Associates, we also handle many individual bankruptcies and help our clients negotiate or modify their debts. Student loans are currently not dischargeable in bankruptcy. It is a huge problem. Really, it seems like the next mortgage crisis.
One of the top issues being addressed by the National Association of Consumer Bankruptcy Attorneys lobby before Congress is student loan debt. Tanya Helfand has been a member of the National Association of Consumer Bankruptcy Attorneys for several years. The Federal student loans can now be modified periodically depending on an individual’s financial status. There are now graduated payments available as well as income-based payments for graduates. Also, there are circumstances for both parents and kids where it really makes sense to file for bankruptcy to lower the total debt burden and get a “fresh start”.
If you or someone you know is overwhelmed by student loan debt, mortgage foreclosure, credit card debt or medical bills or a combination of these factors and is scared and does not see how to resolve these problems, we at Helfand and Associates can help with an objective, careful analysis of the problems. There are options and opportunities for real relief. Many clients come in with incorrect information. They think it is not possible to keep their home or if they file bankruptcy their credit is ruined forever. They also think they are stuck with the monthly student loan payment on the bill. These assumptions are simply not true in most cases. You can go from losing sleep and stealing from Peter to pay Paul to calmly managing your budget on your existing income.
The Federal loan companies have payment modification options so you now can make a payment based on your budget and you are no longer in default. House mortgages can be modified. If equity is low and payments are current, homes can pass through a bankruptcy. Please do not just throw your mail aside and ignore it because “it cannot be fixed and is hopeless.” It is not. We can help you. There are options and opportunities for real relief. At Helfand and Associates, we look at your total financial situation whether it is credit card debt, mortgage foreclosure, tax debt, medical bills, child support, alimony or student loan debt. We can give you intelligent practical options to move forward in a positive direction.
Please call us at Helfand and Associates for a free 1/2 hr. consultation.