Many people seek out an education to further their life goals. Sadly, some are unable to begin paying back their student loans in a timely manner because they are unable to find proper employment. The high amount of student loan debt currently in the market is crushing the financial dreams of many educated people. In the United States, total student loan debt is now higher than total credit card debt.

If you are in default of your student loans or will be in default soon, there are ways to deal with them. This is particularly true when it comes to federal loans, including rehabilitation, consolidation, and income-based repayment. The important thing is not to ignore the situation until it becomes completely unmanageable. Even though student loans are not usually discharged in bankruptcy, sometimes by eliminating your other debts through bankruptcy, you are better able to manage your student loan debt.

In some cases, filing for a chapter 13 bankruptcy case can be used to stop the student loan creditors from collecting from you for up to five years. Allowing you time to get back on your feet. Contact our office today for a free evaluation or request our free special report, Surviving Your Student Loan Debt.

J Thomas Black
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Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization