Orlando Student Loan Debt Attorney

For millions of people, education is the backbone of success. Unfortunately, education is very expensive and many people are forced to take out student loans to pay for their education. After a person graduates, they must start repaying the loan regardless of whether they have found employment or not. In a short amount of time, student loans can become a real burden. Below, our Orlando student loan debt attorney explains the help that may be available.

Discharging Student Loan Debt Through Bankruptcy

In most cases, you cannot eliminate your student loan debt through bankruptcy. The federal government prevents this in an effort to encourage lenders to provide student loans to young adults who have little or no credit history. Still, there is an exception if you can prove undue hardship. If you can prove to the bankruptcy court that repaying your student loan would place a significant financial burden on you, it may be possible to discharge your student loan debt through bankruptcy.

You may have a better chance of discharging your debt through bankruptcy if you incurred a large debt at a for-profit trade school. If you can establish that your school has a history of predatory student lending practices, a judge may be more sympathetic to your case.

Adversary Proceedings

If you want to discharge a private student loan or a federal student loan through bankruptcy, you must file an adversary proceeding. During this proceeding, you are required to explain in detail how your student loan payments are causing an undue financial hardship. You must also provide documentation that supports your arguments.

However, certain private loans do not require an adversary proceeding to prove undue financial hardship. Some loans are eligible for discharge under standard bankruptcy proceedings. These include expenses incurred while studying for the bar exam, loans for living expenses and fees during a dental or medical residency, and loans that are greater than the school’s cost of tuition.

The Student Loan Modification Program

In Florida, the bankruptcy courts have recognized that some type of relief is necessary for people who file bankruptcy and have student loans they cannot repay. As with so many other legal matters, the issue of student loans is handled differently among the individual courts. For example, the U.S. Bankruptcy Court in the Middle District of Florida has their own Student Loan Modification program. When there is a valid need for student loan relief, this program encourages lenders to lower student loan payments rather than discharging them in bankruptcy.

Our Student Loan Debt Attorney in Orlando Can Review Your Options with You

If you are one of the millions of people struggling with student loan debt, it is important to know that there are legal options available. At Florida Law Advisers, P.A., our Orlando student loan debt attorney can explain what they are and help you determine which one is right for you. Call us today at 1 (800) 990-7763 or contact us online to schedule a consultation with our experienced attorney and to get the legal advice you need.