According to recent data from Experian, 40 million Americans have at least one outstanding student loan.  The average amount of debt is $29,000.00, which is an all time high.  A common question for many borrowers is “how will my student loans be affected if I get married?” 

Published in Marriage
Saturday, 14 February 2015 00:00

The San Diego Bankruptcy Forum

www.sdbkforum.org

Information:

SDBF was founded in 1989, and is affiliated with theCalifornia Bankruptcy Forum, together with six other local forums: Orange County, Los Angeles, Bay Area, Sacramento, Inland Empire, and Central California.

Mission Statement:

The initial principal purposes of the San Diego Bankruptcy Forum are to disseminate information, provide public service and education and promote a better spirit of cooperation in the field of bankruptcy and insolvency law and practice in San Diego County, and the officers and agents of the San Diego Bankruptcy Forum are authorized and instructed to proceed to that end.

Attorney D.J. Rausa has been elected to serve on the Board of Directors for a three year term commencing January of 2015.

Mr. Rausa has previously served on the Board of Directors for a three year term in 2006 and a two year term in 2010.

Published in Recent Articles

Economic relief through bankruptcy will help with the student loan crisis.

San Diego, CA, January 28, 2015 – Representative John K. Delaney (MD-6) has filed legislation in Congress spotlighting the omnipresent financial crisis with student loan debt. Unlike mortgage, credit card and auto loan debt, the current law does not allow for student loan debt to be discharged. The Discharge Student Loans in Bankruptcy Act (H.R. 449) would most likely render student loans dischargeable under bankruptcy.

Student loan debt is dragging down economic growth, keeping the American Dream out of reach for many and is a monthly strain for millions,” Congressman Delaney said in a recent statement. “While student loan debt is a complex problem that will require many solutions—increased support for grant programs, efforts to increase affordability, improved consumer education—we also need to reform our laws to help those with the absolute greatest need. Right now, there is effectively a huge student loan loophole in bankruptcy law that’s hurting real people."

As the cost of college tuition continues to rise, the student loan debt burden on students and their families also continues to rise. San Diego bankruptcy lawyer D.J. Rausa said, “Student loan debt affects not only recent graduates but also every age generation, even senior citizens.  This legislation would truly help people struggling with this issue.”

"Bankruptcy has long been an option of last resort for individuals facing an irresolvable level of debt; bankruptcy isn’t easy or enjoyable, but it’s a necessary part of our financial system," Delaney continued. "It doesn’t make sense for students with heavy debt burdens to be worse than someone with credit card, auto loan debt or mortgage debt. Every member of Congress from every state in the country has constituents who are struggling severely because of student loan debt. At the very least we should have some basic fairness in the law.”

About D.J. Rausa, Attorney at Law

San Diego Bankruptcy Attorney D.J. Rausa has over 21 years experience as a consumer bankruptcy lawyer and advocate. Throughout his career, he has helped thousands of consumers with the Student Loan Debt,delinquent tax debts, child and spousal support enforcement actions. As a consumer bankruptcy attorney, he specializes in both Chapter 7 Bankruptcy and Chapter 13 bankruptcy. He is also skilled in the areas of debt negotiations and reorganization, foreclosure defense, income tax resolution with the IRS and California State taxing authorities.  Attorney Rausa is an aggressive advocate for individuals and families consumed by debt after often caused by catastrophic medical bills, job loss, and the hardships of student loan debt.

The Law Offices of D.J. Rausa

1081 Camino Del Rio South #207

San Diego, CA  92108

(619) 295-3322

www.debtdoc.com


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Published in Recent Articles

GraduationToday, 71% of students graduating from 4 year colleges have student loan debt.  According to The Project on Student Debt, the average student loan debt for a college graduate is $29,400.  However, student loan debt is not only a problem for recent graduates.

In recent years, there has been a sharp increase in the number of older Americans who have student loan debt from financing their own education or the education of their children.  As of 2013, people over the age of 65 had $18.2 billion in outstanding student loan debt.

If you have student loans and are approaching retirement, it is important to know that your social security benefits can be garnished by 15% for defaulted federal loans.  In 2013, more than 155,000 social security recipients had their benefits garnished due to student loan debt, as discussed by US News & World Report.

If you have federal student loans in default, there are programs available to rehabilitate your loans, get them out of default, and into an affordable repayment plan.  Our office can help you figure out the best way to tackle your student loan debt and protect your future social security benefits.  Contact us to schedule a no-cost consultation to find out how we can assist you.

Read More about Student Loan Debt Relief | Teacher Student Loan

Published in Recent Articles
Thursday, 21 August 2014 00:00

Student Loan Service

Student Loan Service

If all you want is an affordable payment plan, ask about income-based payment. This bases the month-to-month repayment on a percentage of your discretionary earnings, which is the quantity by which your adjusted gross income surpasses 150% of the poverty line. This is an affordable amount for most borrowers, since it is based on your earnings, not the amount you owe, and usually is less than 10% of gross earnings. If your income is less than 150% of the poverty line, your month-to-month payment is zero under earnings-based payment. To get income-based repayment, you may require to rehabilitate your loans first. This may mean spending a higher monthly payment for 9 months before being able to switch to income-based payment.

student loan service | student loan forgiveness

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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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