More and More Student Loan Debt Help Needed, Finds Attorney for Bankruptcy in Indiana

May 24, 2012 10:28 pm Published by

Bankruptcy comes in ‘cans’.”

That’s been a favorite saying of mine for all of the 25 years during which I’ve served as a debt consolidation lawyer offering Indiana bankruptcy help. Why do I say that? Here are just some of the reasons:

 

 

 


 

  • Bankruptcy in Indiana CAN help stop foreclosure on your mortgage
     
  • Bankruptcy in Indiana CAN stop creditors from harassing you and your family.
     
  • Bankruptcy CAN often wipe out credit card debts.
     
  • Bankruptcy CAN stop wage garnishments.
     
  • Bankruptcy CAN offer payday loan debt help.
     
  • Bankruptcy CAN help get rid of back taxes.
     

If there’s anything resembling a “can’t” in the bankruptcy “can”, it has to do with student loan debt help. That’s because, as I‘ve pointed out to Bankruptcy in Indiana readers many, many times, under the new bankruptcy laws of Indiana, the provision for the discharge of student loan debt is extremely difficult to satisfy.  Here we are, six days away from having the interest rates jump up on federal student loans, and (at least as of this writing), nothing has been changed.

Of course, all the good bankruptcy attorneys in Indiana who work in the Zuckerberg bankruptcy law offices have a CAN-do mentality.  And as one of my Columbus bankruptcy lawyer colleagues points out, other consumer debt can be discharged through bankruptcy.  Since that’s true for both bankruptcy Chapter 7 in Indiana and for cases filed under Chapter 13 bankruptcy law, those discharges have the effect of freeing up cash that can be used towards student loan debt repayments.

Then, there’s always serving your country. 
 

  • Both the Peace Corps and AmeriCorps offering education awards they could be used to pay off student loans.
     
  • Those serving in the Army National Guard can receive up to $10,000 to repay student loans.
     
  •  Teachers in schools that serve low-income or disabled students can get a loan discharge.
     
  •  Doctors who practice in depressed regions can qualify for student loan debt help through the National Health Service Corps.
     

Meanwhile, as student loan debt help becomes a bigger and bigger discussion topic among Indiana lawyers for bankruptcy, it’s also being discussed by U.S. lawmakers. Student loan debt has now reached the $1 trillion mark, according to Reuters. In the past three years, adds Reuters, “more than 675,000 675,000 borrowers have signed up, according to the U.S. Department of Education.”
 

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This post was written by Mark Zuckerberg

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