Being a college student in 2019 can be almost impossible if you don’t have parents willing to pay, or a scholarship. Student loans are an unfortunate choice many people have to make. People spend years of work and rack up thousands of dollars in loans, just to be expected to start paying it back in sometimes 6 short months after they are done with college. Sometimes, a student may not have the funds to start paying off loans right away. The word ‘bankruptcy’ sounds terrible to think about but it can actually be a helpful legal option that can help you postpone your loans and generate money in the meantime.
First things first, is to do your research on a legal team that you trust to help you. Going to a local business is always a safer option than most. Secondly, you will need to either fill out a questionnaire online or in person to determine any and all debts or current outstanding loans you may have. Then the independent attorney will look at your records and explain your options, and then you can decide what you would like to do. Then, after your decision is made, your attorney will help you file for bankruptcy. If that’s what you choose to do.
We will be able to help you decide:
- If bankruptcy is the best option for you
- More about the bankruptcy process (chapter 7 or chapter 13)
- How bankruptcy affects your credit, debt obligations, and property
We are here to help. If you’ve fallen on hard times and need a fresh start, talking to an independent attorney is a key first move to help you determine your options. If you’re struggling to pay off debts and/or being harassed by collectors, an attorney can discuss options with you to help. Call us today and we can help you get started on the path to being debt-free.