Student Loan Debt: Is Filing Bankruptcy in West Palm Beach an Option?
If you struggle with student loan debt, you’re not alone. In 2017, the average student loan debt was more than $34,000. On average, more than 3,000 people default on their federal student loans every day, according to government data. If you want to know about filing bankruptcy in West Palm Beach, contact the law office of Bruce S. Rosenwater & Associates, P.A.
Filing for Bankruptcy in West Palm Beach can be complicated. Let the experienced attorneys at Bruce S. Rosenwater help.
Defaulting on a private student loan can lead to a demand for full payment on the balance of the loan and send your credit score into freefall. Poor credit means you will struggle to qualify for loans and credit cards in the future. Or you’re limited to pricier options for the credit lines you can open. You can expect to have higher rates for insurance and getting a job, apartment, or phone plan may be more difficult.
Debt collectors are limited in the actions they can take to collect from you. Unlike the federal government, private lenders can’t garnish your paychecks without a court order. But, they have other recourse for recovering their funds, including taking you to court.
There are some measures underway to make it easier for student loan borrowers to find some debt relief by refinancing or filing for bankruptcy. Bruce S. Rosenwater & Associates works to help people with their bankruptcy in West Palm Beach every day. If you’re struggling with your student debt or other bankruptcy needs, contact the experts who understand the process. With the best lawyers on your side, you have the best chance at lifting this financial weight. Their team will work with you every step of the way, so you can rest assured knowing that you won’t have to take on this endeavor alone. Call 561-320-8219 today for a consultation.