Medford Student Loans Lawyer
Drowning in Student Loan Debt? Call Oakes Law Office, PC for Options
Serving Klamath Falls, Medford & Surrounding Cities
Millions of Americans have financed their way through advanced education
with student loans. As of 2020, the amount of outstanding debt of this
nature reached upwards of $1.5 trillion according to financial experts.
For many, this means starting their careers already burdened with overwhelming
debt while trying to make ends meet. Others who find it difficult to find
work or pull in salaries that can make payments possible along with meeting
their other financial needs face an even more difficult situation. Finding
solutions to overwhelming student loan debt, therefore, is extremely valuable
to these individuals and their families.
At Oakes Law Office, PC, our Medford student loans attorney is well-versed
in this matter. Our firm can offer information and guidance in potentially
handling student loan debt through bankruptcy as well as through other
options. Every case is unique and you will need to consult with Attorney
Karen Oakes about your individual situation. After discussing the particulars
of your case, it can be determined how best to approach your debt situation
through appropriate legal action or other available methods. Our attorney
has over two decades of experience in handling debt relief for clients
throughout Jackson County.
Student Loan Debt through Bankruptcy
Courts are very reluctant to discharge student loan debt. However, it may
be possible to reduce or eliminate student loan debt through a
Chapter 7 bankruptcy filing though it is a difficult prospect in an already complicated
legal procedure. Only under specific circumstances will you be able to
claim a student loan under bankruptcy law. Those circumstances include
proving that paying your student loan debt will cause “undue hardship”
on you or your dependents.
Whether or not you qualify for undue hardship is decided by the courts
on a case-by-case basis. The test applied to determine if you face undue
hardship varies from court to court and even judge to judge so no clear
legal standard exists. For example, you may have to prove that you will
not be able to keep even a minimal standard of living for yourself and
your dependents if you must also pay off student loans along with other
expenses and that this situation will go on for a long timeframe well
into the future. Others may qualify due to permanent disability discharge options.
Even if you qualify under the undue hardship test, your case will be reviewed
by the court for other factors, such as if you have made other efforts
to resolve your debt. These other good-faith efforts may include seeking
alternative payment options through your debt service agency. In the end,
if you are successful, you may receive only a partial discharge.
Need solutions for unmanageable student loan debt? Book a consultation
with our Medford attorney online
or at (541) 204-2037
to learn your options.