Student loan Debt has become a crisis in the United States, with many young professionals turning to bankruptcy lawyers seeking relief for crushing Student Loan Obligations. The total outstanding Student Loan Debt has ballooned to over $1.3 trillion, and is only going to get worse. Attorney D.J. Rausa, an experienced Student Loan Lawyer, has prepared a detailed and comprehensive presentation that is extremely helpful to anyone assisting debtors with student loan debt. For more information about this Webinare, visit the National Association of Consumer Advocates website. You can also view attorney Rausa's Managing Student Loans in Bankruptcy slides in PDF format.
Many work tirelessly over the years, but never quite make enough to pay back the large amounts they barrow for their education, and many owe even more when their loan amounts grow even higher when they go to in default.
Many file for bankruptcy, wiping out other debts. But getting rid of student loans requires initiating an entirely separate legal process, where debtors must prove that paying the debt would cause an “undue hardship.”
In a few instinces, an agency can ask the IRS to intercept (take) your tax reimbursement and use the cash to your financial obligation.
Tax refund intercepts are allowed in these situations: