Do you have student loans that are overwhelming your budget? Have you been harassed by student loan collection agencies who want money right now? Contacting NC bankruptcy lawyers may be a good way to explore options that you may not have considered. Becoming educated on student loan repayment options is a good idea if you find that your current repayment plan is not working because your financial situation has changed and you can’t afford those monthly payments. Consulting NC bankruptcy lawyers who deal with student loan repayment issues on a daily basis is a good idea. They can help you and the first visit is free. One thing to keep in mind, there is no way to discharge student loan debt and not ever have to pay it back, except in extreme circumstances. Since 1998 when the government passed laws changing the rules of student loan repayment, one can no longer declare bankruptcy and avoid repayment. The government has made it relatively easy for anyone wanting to pursue a college education to get a student loan. They want to encourage people to stay in school and finish their education and, subsequently get better jobs. But those loans have to be repaid. In essence, the government loosened things at one end and tightened them at the other. However, there is a provision in the United States Code that allows one’s student loans to be discharged and never repaid, but that person has to prove that the loans ‘impose an undue hardship.’ In other words, the person has to prove that he is permanently and completely disabled from every being able to work again. That seems extreme, but that is how it is. There are avenues, however, if you cannot repay. Consider discussing with a lawyer the possibility of bankruptcy, which will not make it possible to discharge your student loan debt, but it will make it possible to have some breathing room for up to five years in which time, you can find a better job and make more money, thus easing the burden of high loan payments. John T Orcutt Law Offices is a NC Bankruptcy Lawyers. For more info visit http://www.billsbills.com.
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