With over 12 years of experience and thousands of cases as a consumer bankruptcy attorney, Chris Bush is on the cutting edge of Bankruptcy and Student Loan Law. Chris can assist you in untangling the options to find the best solution for your specific debt relief case.
As of May 10, 2015 the National Student Loan Data System, or, NSLDS report access system was changed. You will need to Log onto NSLDS.ED.Gov by using your User Name or Verified E-mail address and a Password.
1. If you have already set up your access with your User Name or Verified E and Password, simply log on and follow the instructions below.
2. If you have not set up your access, then click on the “Create an FSA ID” tab and follow all the steps to create your FSA ID.
a You will get an e-mail asking you to verify your e-mail address
b You will hear back from FSA once they verify your information with the Social Security Office. This should take a day or two.
c Once everything is verified, follow the directions below.
The starting point to begin an analysis of any Student Loan issue is to obtain any and all information that the U.S. Department of Education has regarding all Federal Student loans that pertain to you. Debt Doc Student Loan Attorneys need this information to be able to explain any and all options.
If you have obtained a Federal Student Loan anytime during your life, then the information is available at the NSLDS link shown above. This report will provide vital information regarding what type of Federal Loans you have obtained, the status of those loans, who the current servicer of those loans are, and who the lenders are.
From this website, Debt Doc attorneys will need two things.
1) The summary of all your loans will be the first page you see.
2) The detail report on all your loans.
The number of each loan will be listed on the left hand side of the summary page. The numbers are hyperlinks to all the details of each of your loans. Simply click on the number and the details of the loan will be the next screen. I will need all pages for each of these individual loans.
In the center of each page, there will be a Download button. DO NOT DOWNLOAD unless you want 75 pages of information in a txt format, we do not.
Simply Print/save as a PDF, of all pages. This is what Debt Doc attorneys want to review and it will be used to discuss and evaluate your circumstances.
I look forward to reviewing this report with you and assisting you with the management of your Student Loan debt.
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. 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.”
The U.S. Department of Education has a program that is available to those who have Federal Student Loans, but cannot pay them due to their total and permanent disability. This process is very detailed and there are very strict documentation requirements.
If you have been deemed totally disabled by the Social Security Administration and are receiving Social Security Disability benefits, then you are eligible to have your Federal Student Loans administratively discharged. In other words, you will be release of the obligation to pay these loans. Just recently, here at DebtDoc, we were successful in obtaining a Total and Permanent Disability Discharge of $80,000.00 in Federal Student Loans.
Additionally, if you are a military veteran, and have been determined to be disabled by the Veterans Administration, your Federal Student Loans can be discharged under the Total and Permanent Disability Discharge process. We assist disabled military veterans with this process in order that they may recover and move forward without having the financial burden of any Federal Student Loans.
Many disabled people who have Federal Student Loans can be eligible for a Total and Permanent Disability Discharge of their loans if their doctor has made such a determination. Again, this process is very technical. Here at DebtDoc, attorney Chris Bush can help.
Today, 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.
DebtDoc attorneys feel strongly about addressing the Discharge of Federal Student Loans if a Military Veteran is disabled because of a service related injury.
As we all know, in today’s economy student loans seem to haunt every generation. The most recent graduate, who finds their student loans are not due for the first time, recognizes this. The student loan borrower who has exhausted their very last deferment is feeling the pinch. Even those who are drawing Social Security or other Federal Benefit, may realize the catastrophic economic impact of the offsetting of their benefits.
However, nothing is more injurious to our Disabled American Veterans who find themselves lost and confused because they have U.S. Veterans Benefits that are insufficient in addressing their living expenses and their Federal Student Loans.
The U.S. Department of Education has a Student Loan Discharge program for Disabled Veterans. If a Veteran is unemployable due to a service connected disability, as determined by the U.S. Department of Veterans Affairs, then the Veteran may be able to Discharge his or her obligation to repay their Federal Student Loans, without regard to balance owed or status of collections.
Additionally, there are two other extra benefits for the Disabled Veteran who qualifies. The first being that any and all amounts paid to the Federal Student Loans, are refunded to the Veteran and retroactively applied to the date of Disability Determination. The second, there is no requirement for any monitoring of the Disability. Both are extremely beneficial to the Disabled Veteran.
Call to Action:
If you find yourself unable to address your student loans, and are drawing benefits under Social Security, Social Security Disability, State Disability, or any Disability Rating by the Veterans Administration, please contact a DebtDoc attorney for an evaluation of your financial situation.
These programs are available to Veterans and Retired Persons.
Are you struggling under the weight of a student loan? You’re not alone.
Student loan debt cripples many student loan borrowers, including recent graduates. Many leave college with thousands of dollars in student loans. Even with a steady job, it can be difficult to meet student loan repayment obligations. Others struggle for years in an attempt to manage the student loan debt.
When does a student have to start payment on Perkins Student Loans?
If someone is attending university at least half-time, they have nine months after they graduate, leave school altogether, or drop below half-time status before they are required to start repayment. If you attend less than half-time during the semester, check with your college to learn about how long your grace period will be before you make payment on perkins student loans.
Contact us to learn more about Perkins Student Loans!
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We offer advice on debt consolidation loans San Diego. Consolidate Credit Card Debt
You many credit cards, bills, auto and house loans, but it would be a lot easier consolidating your credit card debt into one easy monthly payment. One could also pay down your credit card debt more quickly by consolidating all of your bills. Learn about debt consolidation san diego
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First, you will need to figure out which credit card debt relief program fits best. Most of these will be able to give you one simple monthly payment, but they all have their different features. Learn more about debt consolidation loans san diego!
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Having lots of debt can really feel like you're going through your life with a cloud hanging over you. No matter what you are doing, stress and fatigue about your debt can stay in the back of your mind.
Finding reputable debt consolidation companies :: Let's say you see an ad for a debt consolidation companies that promise to help you pay down your debt quickly. "Really?" You might think. "I've tried to pay this off on my own for as long as I can remember, maybe obtaining outside help is what I need to help me finally knock this debt out of my life."
All of this is perfectly understandable, but you will have to keep in mind that there will nothing easy about it. If you are thinking about going to debt consolidation companies, then you will need to do your homework and find debt consolidation companies that are honest, or you might end up in a far worse situation than you could have ever imagined!
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If you apply for government student loans, you may be offered government student loans as part of your university's financial aid. A student loan is money you can borrow and must pay back with varying interest.
If you then decide to take out a government student loan, make sure you know who is making the loan and the terms and conditions of the loan. Government student loans can come from the federal government or from private lender sources like a bank or any financial institution. Loans given by the federal government, called federal government student loans, can usually offer borrowers lower interest rates and have flexibility in their payment options than loans from private banks or other private sources. Learn more about government student loans