Student Loan Lawyer: What They Do and When You Should Hire One
Student loan lawyers can be a viable solution that can help you with your debts if you’re being sued by missing payments on your federal or private student loans, especially if you’ve already explored more conventional solutions such as income-driven repayment, deferment and forbearance, consolidation, or refinancing.
Hiring legal help might be a potential solution if you feel that you’ve run out of options with your student loan repayments, or require consultation with the next steps in taking care of your student loan repayments.
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What is a Student Loan Lawyer?
Student loan lawyers are specialists that work to demystify the student loan process, helping debtors go over their options should they happen to get behind on their student loan payments, and help to answer questions about bankruptcy, or hope to qualify for student loan discharge.
“There are but a few student loan lawyers nationwide,” Stanley Tate, a student loan law specialist, explains. “In my experience, those who call themselves student loan lawyers are both highly trained and highly experienced in solving student loan problems. That combination of training and experience allows a student loan lawyer to effectively and efficiently solve your problems.”
Lawyers can be an attractive option for debtors who feel that they have reached their wit’s end with paying back their student loans.
Can a Lawyer Help With Student Loan Debt?
Lawyers that specialize in student loan debt can be helpful in a number of ways. Those that are struggling with wage garnishment, finding a way to lower their monthly payments, have questions about default or delinquent loans may find relief with a student loan lawyer. This could be especially helpful for those who have multiple debts from continued education and are unaware of the next steps they might be able to take.
“When I completed my PhD program, I was drowning in student loan debt,” writes Kourtney, a PhD graduate who used student loan lawyer Stanely Tate as a resource for solving his student loan debts. “With my initial monthly repayment amount, it was scary to think that as an educator, I would not be able to afford those payments and have the basic necessities of life. I was afraid that I would never be a homeowner. But [Tate’s] knowledge made me feel at ease about what was to come. He had done much of the research for me, about my options. And he was patient.”
Should you run out of other options, student loan lawyers can be a knowledgeable and helpful resource to help you find solutions for your student debt woes.
Should You Hire a Student Loan Lawyer?
The decision to hire a student loan lawyer is no easy one to make. But if you’ve defaulted on your student loan payments, it’s entirely possible that you might be contacted by a debt collector or your lender in order to make your student loan repayments.
You’re Being Sued Over a Student Loan Debt
Regardless of whether you have federal or private student loans, your lender has the right to sue over defaulted payments that have gone into a delinquent status, especially if attempts to contact you for repayment have failed.
For the most part, federal student loan lenders are less likely to resort to legal action, as they have wage garnishment and tax-refund offsetting as ways of collecting owed student loan revenue.
In contrast, private student loan lenders have fewer options to get lenders to pay their debts, making them far more likely to be litigious as a consequence of severe student loan delinquency.
In this situation, you might be better off hiring professional who is used to handling student loan litigations.
You Need Professional Help Handling a Student Loan Issue
Whether you’re being sued for defaulted and overdue payments, or simply looking for looking for more professional help handling your student loan issues, going to a student loan lawyer might be helpful in sorting out your options.
According to the SLBA program, hiring a lawyer could be particularly effective under the following circumstances:
- Your identity was stolen and you never agreed to pay the debts under your name
- You have completed your student loan payments, but the lender hasn’t completely updated their records
- The debt was released in bankruptcy
- You’re being sued for more than what you owe
- The loan has been canceled, or the school you were attending might have closed
- Your lender waited for too long to sue
Of course, there are other circumstances where hiring an attorney might be prudent. To evaluate your individual needs, it’s best to speak with a professional.
If you’re having a hard time making your student loan payments, have gone into default, or are being sued for debts that you have paid off student loan lawyers can provide the legal assistance that might allow you to move on and leave your debts behind.
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This post was updated February 28, 2019. It was originally published February 28, 2018.