Frequently Asked Questions

D.J. Rausa

D.J. Rausa

With over 21 years of experience as a consumer bankruptcy attorney, D.J. Rausa stays on the cutting edge of Bankruptcy and Student Loan Law which enables him to provide vital information to his clients.

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Credit Card Debt

Credit Card Debt

Guidance and Debt Management Plans

If making consistent and timely credit card payments is a regular difficulty, you may possibly gain from expert help. Credit counseling and debt management plans can help you get straight back on track.

Credit guidance can guide you in the right direction after you’ve taken a couple of wrong turns. An experienced credit therapist can look over your funds and current situation and then assist you make a plan to move forward. He or she can assist you set up a household spending plan, savings plan and repayment plan for present debts. Your counselor can also gauge if you'll need more help.

Among your counselor’s suggestions may be enrollment in a debt administration plan (DMP). A DMP is best suited for individuals whom can afford their monthly repayments but lose track of bills or forget to pay on time. Whenever you enroll in a DMP, you’ll be responsible for just a solitary repayment each month. Instead than spending credit card organizations directly, you’ll send money to your credit therapist, who will then disburse the money to your different creditors. This can simplify your month-to-month bills and may be able to save you cash in interest and fees.

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Credit Card Consolidation

Credit Card Consolidation

Consolidation and Settlement

Consolidation and settlement are more involved approaches to dealing with too much debt. While they require significant planning and commitment, they can help you out of a tough situation when you have actually too much credit card debt.

Consolidation rolls all your debts into one payment. As with a DMP, it reduces your number of monthly payments. Consolidation may additionally have the benefits of lowering your interest price and enhancing your payment schedule.

Settlement is a good choice for individuals whom can’t pay for the credit card debt they’ve racked up. You can enlist the assistance of a debt settlement firm or negotiate directly with loan providers to have your debt reduced. Whenever finished effectively, you may owe just a small fraction of your initial debt.

Credit cards can be helpful whenever utilized properly. They’re convenient and can enhance your credit background. Nevertheless, misusing or overusing the line of credit can have lasting negative effects. It’s important to make use of credit cards wisely and seek assistance when you really need it.

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Refinance Student Loans

Refinance Student Loans

Student Loans

For you, and numerous students like you across the country, graduation does not come with a job. It can come with a heap of student loan debt. The average borrower in the university course of 2013 is expected to carry more than $35,200 in student loan financial obligation. That debt may be accompanied by growing credit card debt, as well as a car loan and maybe also a home loan.

Did You know?

The costs for a higher education are among the fastest-rising costs in American culture these days. Since 1980, tuition expenses at U.S. universities and universities have actually increased 757 percent. In comparison, food and electricity expenses have risen about 150 % and gasoline rates have increased more than 400 percent over the same period of time.

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Student Loan Debt

Student Loan Debt

People in debt commonly justify their student loan debt, saying that they will be in a position to spend down their debts after they graduate and begin working full-time.

However, credit card debts and automobile loan debts are considered bad debt. They don’t add financial value to your life such as by increasing your web worth or your earning power.

High levels of debt – especially bad debt – at more youthful ages are leading much more pupils and young individuals to the bankruptcy courts.

Before filing for bankruptcy, youthful consumers may want to look into debt combination and debt settlement, which can enhance their monetary standing.

In debt combination, all or several of your debts are rolled into one. You’ll nevertheless owe the exact same amount of money, but you’ll be accountable for simply one bill each month, making your debt payments easier and more manageable. It can additionally conserve you cash in interest over time.

Financial obligation settlement decreases the amount you owe through negotiations with your loan providers. You can get a debt settlement business to negotiate on your behalf, or you can negotiate directly with your creditors. A successful settlement can conserve you cash.

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Consolidate Debt

Consolidate Debt

Consolidating student loan debts by taking out one large loan or a loan secured against a mojor asset, such as a home to pay down a combination of smaller debt or accounts, is not something we would advise. It uses one lump sum to cover for the entire amount owed on multiple loan accounts. On the other hand, that new student loan is now secured. You may have just taken an unsecured loan and collateralized it against your house or other personal asset. By taking out a new student loan, you can qualify for a lower or fixed interest rate on your loan and may be required to make a single monthly payment.

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Debt Settlement

Debt Settlement

Debt settlement programs usually are offered by for-profit companies, and involve the company renegotiating with your loan creditors to allow you to pay a loan “settlement” to resolve your loan debt. The settlement is another way to say lump sum that's less than the entire amount you owe. To make that entire lump sum payment, the debt settlement program asks that you put aside an exact amount of money every month in savings or some other account. Debt settlement companies may ask that you transfer this set amount every month into an account to accumulate enough savings to pay down a settlement that is reached eventually. Furthermore, these programs usually encourage their clients to stop making any monthly payments to their loan creditors.

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Student Debt Forgiveness

Student Debt Forgiveness

Federal Student Loan Debt Consolidation Programs:

  • The Standard Repayment Program
  • The Graduated Repayment Program
  • The Income Contingent Program
  • The Income Based Repayment Program

Each of these programs offered by the Department of Education is intended to consolidate federal student loans into a single student loan and one payment. These programs are also made to fit the needs of those students who are struggling to pay their federal student loans and give them payment relief. New low monthly payments are calculated considering income and one's family size. The lower your income, the lower the loan payment will be. These programs are often effective because they assess each individual situation and offer a monthly payment agreement that corresponds to the person's current situation. You can’t beat that program and with an additional consideration of the needs of your family and family size, federal student loan debt consolidations are a solid option.

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Federal Student Loan

Federal Student Loan

Subsidized and unsubsidized student loans are federal student loans that are made for students to help cover the financial costs of a higher education at a 4 year college or university, community college, trade school, career, or technical school. The United States Department of Education offers eligible students who attend participating schools Direct Subsidized Loans and Direct Unsubsidized Loans.

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Attorney San Diego

Attorney San Diego

San Deigo bankruptcy litigation attorney D.J. Rausa uses his knowledge and litigation skills in matters involving tax debts, child and spousal support enforcement actions and consumer bankruptcy. He appears on behalf of clients throughout San Diego and Imperial Counties, advocating for clients in cases involving:

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School Loans

School Loans

Almost half of those people with student loan debt — 49% of those people, to be exact — say that the student loan debt that they accrued to pay for their studies is in fact now an obstacle to buying a house, according to a new survey from NeighborWorks America.

In fact, 17% of those people with student loan debt said that it’s their largest obstacle to purchasing a home, while only 14% said not having a down payment is the largest hurdle. Having the ability to afford a preferred neighborhood was 13%, and 11% said the lack of job security as the largest problem that hampered their ability to purchasing a house of their own. NeighborWorks America is national, nonprofit, affordable housing and community development organization.

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Thank you DJ!

I had no idea where to start with my bankruptcy and process. After my first meeting with DJ I felt confident that things were going to go well. He helped guide me through the entire process and time. 

He's very professional and courteous, thorough and extremely knowledgeable. 

I would recommend anyone that needs a bankruptcy lawyer/ student loans. 

Don't have a second thought when choosing DJ Rausa!

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Posted by a client - February 15, 2016

AVVO Lawyer Rating is Superb!

Respected Legal Source

D.J. Rausa interviewed by the Wall Street Journal for article on Bankruptcy and Student Loan Debt.

D.J. Rausa is recognized as a legal expert in Student Loan Debt Resolution and the associated Bankruptcy Laws.

Read what D.J. recently told The Wall Street Journal regarding the probable rise in Student Loan Debt Resolution through Bankruptcy.

Client Testimonial

To whom it may concern,
Mr. Rausa is extremely knowledgeable with the complexities of Federal Student Loans.
I went from a thriving career to full medical disability, ending with an SSDI placement. Unfortunately, I lost everything and became unable to continue making the student loan payments, so it was in deferment for over five years. When the SSDI settled I tried to negotiate an affordable payment plan with the loan holders but they refused my efforts, instead demanding over twice the amount I could afford.
I contacted Mr. Rausa and found him to be courteous, responsive and quick to assess my situation. He was sure he could help and took time to answer all questions, which relieved much anxiety. Within months he successfully resolved the debt! With much confidence, I highly recommend Mr. Rausa.
Please contact me if you have any additional questions.
Sincerely,
 CJWaldenSignature
CJW
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