The stress keeps you awake at night, so you go online and search for solutions. Free help. Anything or anyone who can get you out of debt.
But the online answers you're seeking are not there. There is no free service that can aptly resolve your debt problems.
There are many debt counseling services. But are they legitimate and how do you know?
Work with debt counseling organizations that are approved by national debt counseling organizations:
- The Better Business Bureau
- National Foundation for Credit Counseling
- Counsel on Accreditation
5 Reasons to Ignore Online Student Loan Debt Relief Advice
1. Average Student Loan Debt in 2013 is IncreasingIf you're like the Class of June 2013, your average student loan debt bill is $35,200, according to CNN Money.
But if you're like some clients seen at Lanigan and Lanigan, P.L. you are trying to file bankruptcy or foreclosure to get rid of other debts just so that they'll have the funds to pay off student loan debt.
Student loan debt, like child support and taxes, cannot be eliminated through bankruptcy.
But some student loan debt is so high that clients come in saying "I just don't see how I will ever be able to pay the student loan debt off," Eric Lanigan, of Lanigan and Lanigan said.
"Then, people are listening to whatever a friend says about the student loan debt, instead of consulting with an attorney, they're going to free consultations where non-lawyers are telling them incorrect information.
"Student loan regulations are so complex that we've had to establish a complicated matrix plan for every person who comes to us with student loan debt. But it is a plan specific to the clients' loan.
"The options are dependent upon the type of loan, the amount, whether the loan is in default, the profession of the debt holder, the loan originator, the date the loan was taken, and so on."
2. Take Legal Advice to Handle Student Loan DebtThe complexities involved in student loans which are government-regulated, require a trained and skilled legal professional to accurately guide a debtor to the options and the relief--if it is possible--that is needed.
Eric Lanigan and Roddy Lanigan see clients struggling with student loan debt over $100,000 on average per person.
For debt at that level, the clients need to have a formal consultation with the Lanigans who walk the client through the student loan debt relief options available to them.
3. Student Loan Debt Options Vary by IndividualThe options will vary for every individual. No student loan debt is the same because the individual has a different personal financial standing, loan origination date, amount of debt, profession and income.
When a person goes online in the middle of the night, awake because of the stress from student loan debt, don't look for the simple answers. Look for attorneys. Read about the options that they are explaining. Decide on a student loan debt relief attorney who has been handling student loan debt relief.
The one sure action for some peace of mind is to meet with an attorney in a formal consultation to look at YOUR loan and YOUR history and YOUR options.
4. Educate Yourself Before Meeting With an AttorneyVisit the Lanigan&Lanigan YouTube channel where you can watch our series on student loan debt relief options. Then, when you're educated, call 407-740-7379 to schedule a formal consultation. Meeting with an attorney in a consultation gives you licensed, legal advice. You owe yourself an hour to get viable answers to what you can do to legally handle your student loan debt.
Student Loan Debt Relief Options May Include:
- Loan forgiveness
- Loan consolidation
- Loan renegotiation
5. When You Delay, Student Loan Debt Options DisappearOne thing is true for every student loan debtor: do not delay in getting answers. If you are in default, get to an attorney immediately to begin a repayment plan, a consolidation, or another option.
If you wait, your options for resolution will disappear. Handle the stress by learning about your student loan debt and what CAN be done to relieve the stress that is keeping you awake and stressed out.
Believing that student loan debt will have to be paid forever is a terrifying prospect. But what if it's NOT forever? Your sweating palms, racing heart, constant anxiety can be relieved with a simple action: Consult with an experienced student loan debt relief lawyer. Have student loan debt analyzed and carefully reviewed for debt relief options.
Consult with Lanigan and Lanigan to find out your options from a reliable source. Call 407-740-7379.