In previous blogs, we have discussed discharging student loan indebtedness in a bankruptcy, federal student loan repayment plans, federal student loan discharge and forgiveness options, and private student loan settlement options.
This blog will discuss other available options to assist a borrower with loan indebtedness.
Even if you cannot discharge your student loans in a bankruptcy, a bankruptcy may be able to relieve you of other debts which would free up funds to pay the student loan lenders. In addition, please remember bankruptcy may be able to be used to wipe out past due tuition.
In certain cases, a Chapter 13 bankruptcy may used as leverage in negotiations with your loan creditors. An attorney can advise you as to whether this option is a good one for you.
Finally, several companies are now offering new employees assistance with paying their student loans. Employers are recognizing the financial burden student loans can have on their employees. Some companies are willing to pay a certain amount per month toward the employee’s college loans. Other companies are offering a lump-sum contribution over a set time period. This may be a more attractive incentive than contributions to a retirement plan or health care plan.
For more information on debtor-creditor issues, please contact Charles Smith or Nicole Hughes at Telpner Peterson Law Firm, LLP today at 712-309-3738.