Providing Relief From Burdensome Debts
Many people are burdened by tens of thousands of dollars or more in student loans. These debt servicing needs often crowd out other forms of debt, making it difficult or impossible for people to cover living costs and still make payments on other debts. Is there any solution for people with unmanageable student loan debts?
Unfortunately, student loan debts are dischargeable in bankruptcy only in extraordinary circumstances, for example, when a car accident causes someone to become completely paralyzed. By filing bankruptcy, however, you can get relief from other burdensome debts, making it much easier to make monthly student loan payments.
At The Law Offices of John E. Mufson in Delray Beach, Florida, we have debt relief solutions for people with unmanageable debts. We use the bankruptcy system to help our clients reduce or eliminate many types of debts so that they can get a fresh financial start.
How We Can Help
In a free initial consultation, attorney John Mufson can review your situation and explain your options.
For people with too much student loan debt, Chapter 13 bankruptcy is often the best solution. Not only does Chapter 13 put an automatic stay on repossession, foreclosure and garnishment, it also stops the accumulation of interest on student loans and other debts. You can also roll past-due student loan debts into your repayment plan. At the end of your three- to five-year repayment plan, your remaining unsecured debts (such as credit card debts, medical bills and personal loans) are discharged. Though your student loan debt still remains, your financial position is much stronger, and with fewer unsecured debts to pay, you have greater cash flow with which to cover your student loan payments.
Lake Worth Debt Relief Lawyer Serving South Florida
John Mufson has been helping people in South Florida get debt relief for more than 25 years. Mr. Mufson takes full advantage of the bankruptcy laws, to help his clients obtain maximum debt relief while keeping as much property as possible.