The Rising Dilemma Of Student Loan Debt In America
Apr 13, 2021
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Many Americans are missing out on an opportunity to safeguard themselves from higher interest rate private student loans, ballooning to crisis levels in the country.Debt Relief Services is back in the spotlight with the persistent evolution in the business world, helping individuals who are vulnerable to insurmountable unsecured debt problems. Although, it may seem daunting to an individual to unload all or some portion of personal debt via settlement in order to avoid bankruptcy. But one of the boundless veracities in business is that everything is navigable.
There has been a constant battle between debt settlement lawyers and debt settlement companies, but in most cases, it’s best to avoid the debt settlement companies masquerading as one. McCarthy Law PLC helps people in difficult financial situations because of too much debt at the hand of a couple of reasons, including the loss of a job, personal or medical emergencies, divorce, declining home values, a challenging economic environment, and many more. As debt attorneys, they are one of the rare debt settlement companies that can actually represent the clients in lawsuits and defend them against their creditors.
Today, more than 40 million Americans are snowed under student loan debt. With the significant increases in college tuition over the past ten years, student loan debt settlement programs have become a significant burden nationwide. Under the student loan forgiveness program offered by McCarthy Law PLC, a licensed attorney contacts the student loan lenders and begins a negotiation process to significantly reduce the interest and principal the lender claims is owed. At the end of a successful student loan settlement, the borrower ends up paying only a fraction of the original balance claimed by the lender. The rest of the debt is forgiven by the lender, and the settlement is a full and final settlement of the debt, leaving the borrower without the burden of student loan debt going forward. All of this is done without filing bankruptcy.
One of the major reasons for hiring a student loan lawyer is the prompted upsurge of money exchanging hands in the student lending market. The student lenders, servicers, and collectors are more hypnotized to get greedy and break the rules. There have been troubling founding on the lack of awareness students have about their loan terms. Among the most worrisome findings was that many college students perceive their probability of receiving student loan forgiveness programs to be almost guaranteed, which has the potential of igniting a financial disaster in their life ahead.
In such uncertain times where student loan debt has soared, higher than ever before, ensuring the money is in safe hands is a savvy move. If you have a private student loan or are unsure of what type of loans you have, feel free to contact McCarthy Lawyer for a free consultation with a student loan attorney. They will provide a free case evaluation to see if the potential client can qualify for their student loan debt settlement program, creating ease for students.
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