Oakland Student Loan Debt Attorneys
Reducing Student Debt for Clients in Oakland - (877) 969-7482
Are you having difficulty keeping up with your student loan payments? Are you tired of paying too much in interest fees every month? If this is how you feel, don’t worry, you’re not alone. In the United States, the average college student will graduate with $33,000 of student loan debt. Even if you do land a high paying job right out of school, a significant portion of your monthly income will end up going towards your loan obligations.
If you are struggling with your student loan debt, give us a call to find out how our skilled team of legal professionals can help you obtain debt relief. Call (877) 969-7482today!
What Types of Student Loan Cases Do You Handle?
Our lawyers are committed to helping clients resolve their debt issues.
We can take on any of the following student loan cases:
- Federal Student Loans: Federal loans are closely regulated. We can review the details of your case to determine the best strategy for resolving your debt.
- Private Student Loans: Loans that have been taken from a private financial institution are much different than loans taken out through the Federal Student Loan Program. Private loans have limited options for repayment, but our legal team can help you negotiate new terms for repayment.
Can Bankruptcy Clear Student Loan Debts?
It may be possible to obtain a partial or full discharge federal or private student loan debts through bankruptcy, but it can be extremely difficult to do so. In order to qualify for a student debt discharge, you will need to prove undue hardship. What precisely constitutes undue hardship varies from court to court. The burden of proof lies with you for demonstrating you cannot feasibly repay your loans.
Examples of undue hardship include:
- You have a disability or medical issue that is keeping you from working.
- You are on a fixed income without the possibility of a salary increase.
- You have family related issues that are keeping you from earning a living.
To try and discharge your student loans via bankruptcy, you need to begin by filing a formal complaint with the bankruptcy court where you will need to demonstrate that repayment would cause and undue hardship to you.
Can I Reduce My Student Loan Debt?
Reducing student loan debt is different than discharging other forms of debt, which is why you should have an experienced lawyer assess the details of your case. We can help you reduce your student debt loan payments outside of bankruptcy. You have options available to you.
If you have been the victim of unfair practices by your lender such as breach of contract or fraud, these defenses to repayment can be raised in the creditor’s Proof of Claim and if you succeed will you owe nothing on your debt.
Proving Undue Hardship
If you can prove that you have experienced “undue hardship,” you might be able to have your student loans forgiven. Make sure that you prepare your case with extensive documentation to help create a compelling argument for undue hardship.
Some documentation that you may need to include to prove you are struggling to maintain a minimal standard of living:
- Tax returns
- Medical records and bills if you have a disability or medical condition
- Bank statements
- Credit card statements
- Necessary expenses such as food, clothing, household maintenance, etc.
- Documentation showing you made previous attempts to pay off your loans
Work closely with an attorney to help ensure that you are able to prepare a strong case with sufficient documentation.
Consult with Our Student Loan Attorneys
At The Kostopoulos Bankruptcy Law, we are dedicated to helping clients in Oakland obtain relief from their student debt issues. If you are tired of getting calls from debt collectors, you should immediately consult with our attorneys to discuss the details of your case. We have the skills and experience that you need to ensure that your rights and interests are fully protected. Contact us today to discuss all of your options.