Bankruptcy

Student Loan Debt Relief

New Jersey Lawyer Assists Clients with Student Loan Debt Relief

Responsive attorney helps graduates in the Union area deal with overwhelming debt

When facing unmanageable student loan debt, you might not know what steps you can take to remedy the situation. At Bruce W. Radowitz, Esq., P.A., I can help you create a strategic plan to ease the financial burden of your loans. I will provide highly responsive and hands-on legal representation to people in the Union area and throughout New Jersey who are struggling to repay their student loans. I am committed to giving each client the individualized attention they need to get relief from student loan debt.

Knowledgeable New Jersey advocate provides options for discharging student loans during bankruptcy

In most cases, student loans cannot be discharged in bankruptcy. However, there are certain situations where all or some of your loans can be discharged if you file for Chapter 7 or Chapter 13 bankruptcy. Some courts use the Brunner test, which takes poverty, persistence and good faith into consideration. Other courts use the totality of circumstances test, which determines if paying your student loans is an undue hardship. The results of these tests may lead to your loans being dischargeable.

Other reasons that your loans may be discharged include:

  • You have become permanently disabled.
  • You were unable to complete your degree because your school closed.
  • The school falsified your ability to benefit from its program.
  • The school enrolled you even while knowing you were unable to meet minimum state employment requirements for the job.
  • The school forged or altered your loan application without your knowledge.
  • You are the victim of identity theft.

I use a variety of strategies to seek the discharge of student loans through bankruptcy if that is your best option for debt relief.

Skilled adviser assists with monthly payment reductions

Another option to relieve the burden is having your monthly payment reduced, which may occur if:

  • Your income decreases.
  • You have a financial hardship.
  • You lose your job.

Be aware that your creditor is most concerned with the business's bottom line. That means the lender may be leading you into a repayment plan that is not in your best interest. Speak to me before you agree to monthly payment reductions.

Dedicated counselor presents options for loan forgiveness

In some specific circumstances, your student loan may be forgiven. If, after ten years, you are working for the government, a religious organization, a charity, or as a teacher or nurse, you may no longer have to pay your student loans. In some cases, your loans may be forgiven after 20 or 25 years, no matter where you are employed. Loan forgiveness depends on which repayment plan you are using. I can explain whether you are eligible for loan forgiveness and help you pursue this option.

Trusted attorney advises on postponement or deferment options

Postponing or deferring a loan is not always a good option, as your loans continue to gain interest, and deferment only temporarily relieves the debt. However, your loans can be deferred if:

  • You are on active military duty.
  • You cannot work due to injury and are receiving temporary total disability benefits.
  • You have become unemployed.
  • You have suffered an economic hardship.

To learn more about your options for student loan debt relief, contact my firm. I understand the stress you are dealing with, and I want to help.

Contact my New Jersey debt relief law firm for help with student loan debt

If you are dealing with student loan debt, I can help you pursue the relief you need. Call Bruce W. Radowitz, Esq., P.A. today at 908-687-2333 or contact me online to schedule a free consultation. From my Union office, I represent clients throughout New Jersey.