Student Loans

Finding Financial Solutions With or Without Filing Bankruptcy

Sader Law Firm has the expertise and knowledge base to help clients successfully solve student loan problems by (1) consolidating federal student loans and applying for income-based repayment plans, (2) defending clients in student loan lawsuits on private student loan debt or, when necessary, (3) reducing or eliminating student loan debt through the bankruptcy process.

When borrowers fall behind on student loans or are just frustrated by the huge balances due, the consequences can be catastrophic to their finances and financial futures. Borrowers can face wage garnishments, tax refund garnishments, harassment by creditors, lowered credit scores, an inability to save for retirement and difficulty obtaining financing for mortgages, car loans and businesses.

Depending on the profession and institution attended, student loan balances exceeding $100,000 and more are commonplace. Adding compound interest and fees into the equation, these loans can double, triple and quadruple over the course of decades. In the past decade alone, U.S. student debt has increased by more than 91%.

Student loan debt should not ruin your goals of financial security. The student loan attorneys at Sader Law Firm can help you save thousands of dollars or more over the life of your loan.

For many, the hardest part is making that first call and asking for help. Often, our prospective clients feel better immediately after speaking with a lawyer and learning about their legal options for debt relief and a fresh financial start.

The Sader Law Firm offers information to student loan borrowers by calling us directly or filling out our online case review contact form. SLF also offers a more in-depth consultation for those with student loan issues only (as opposed to those looking for bankruptcy) for a one-time consultation fee of $250.00.

The student loan lawyers at Sader Law Firm assist clients with federal and private student loan debt, including:

• Income-Based Repayment Plans (IBR): Borrowers with federal student loans have a right to consolidate and apply for income-based repayment plans that base repayment on a borrower’s discretionary income, instead of the balance of the loan. Repayment under IBR plans such as REPAYE can be as low as 10% of a borrower’s discretionary income and after 20 to 25 years of payment, the remaining balance is discharged.
• Public Service Loan Forgiveness (PSLF) and Teacher Loan Forgiveness: Borrowers with federal student loans employed by nonprofits or public entities and teachers may be eligible for forgiveness of their federal student loans under the PSLF program or Teacher Loan Forgiveness after a certain number of qualifying payments.
• Debt Cancellation and Discharge: Federal student loans may be canceled or discharged under certain circumstances, including Closed School Discharge, Total and Permanent Disability Discharge, Discharge Due to Death, Borrower Defense to Repayment, and False Certification Discharge.
• Perkins and Stafford Loan Cancellation and Discharge: This may apply for teachers, VISTA volunteers, military, peace corps, speech pathologists, government workers, non-profit workers and other service-based professions.

Sader Law Firm represents clients in Missouri and Kansas defending lawsuits filed by private lenders for nongovernment loans as well. Determining the best course of action for a student loan borrower can involve tax considerations and decisions on consolidation, rehabilitation or other options, along with a host of other individual concerns.

The student loan attorneys at Sader Law Firm, LLC have obtained significant reduction in student loan debt through bankruptcy by filing adversary proceedings, which is a case within a bankruptcy case, where the court considers whether the student loan payments would cause “undue hardship” for the debtor. We guide borrowers though the adversary process to obtain the discharge and reduction of the student loans.

Need more information about your specific case? Give us a call and we’ll assist you.