KANSAS CITY, Mo., Aug. 20, 2013 /PRNewswire/ — The United States Bankruptcy Court for the Western District of Missouri entered an Order on May 29, 2013 approving a settlement for a Missouri woman owing more than $400,000.00 in student loans. Per the settlement the woman is entitled to receive a bankruptcy discharge of up to $325,000.00 of student loans. The holders of the student loan debt were Suntrust Bank and Educational Management Corp. Our client agreed to a repayment schedule of approximately 25% of the balance over a ten (10) year period of time. Upon successful completion of the partial repayment, the entire balance will be discharged. Neil Sader and Megan Dennis of The Sader Law Firm represented this client. Sader stated, “While student loans generally are not dischargeable in bankruptcy, there is a hardship provision which can be used in certain deserving circumstances.” The client in this case was…
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U.S. News & World Report recently posted an article on people who are struggling to pay back student loans; when faced with defaulting on loans and potentially getting hit with wage garnishment and other harsh debt collection measures, they’re turning in desperation to unscrupulous debt relief companies. Many of those companies charge money for services that can be obtained for free from the US government.B People already in debt find themselves losing even more money and receiving misleading advice on debt consolidation or repayment, all because of the desperation felt when struggling with loans that seem too huge to pay off. You don’t need to turn to shady debt relief companies for help. If you’re struggling with student loan debt, there are different options for repaying loans. The possibilities include legitimate repayment plans and debt consolidation options. Another option is to apply to have the loan deferred. Unemployment, military or…
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Today we continue our series on Student Loans, written by Sader Law Firm attorney Megan Dennis. PART 2: LOAN CONSOLIDATION When a person first finishes school, one of the main topics of conversation amongst their peers will be the much dreaded student loan repayment. Some people will brag about the low interest rate they locked in by consolidating their student loans. Others will indicate that they opted to keep their loans “as is” and make the payments separately. So what exactly is consolidation? It is combining some or all of your student loans into one new loan. Only certain student loans are eligible for consolidation. Private student loans are not eligible for consolidation. For a complete list on what loans are eligible for consolidation, please visit the U.S. Department of Education’s website. The pros of consolidation: It can lower monthly payments and can lock in a fixed interest rate. The…
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*Credit card payments will not be accepted for bankruptcy cases, unless pre-approved by The Sader Law Firm. If you have a question about a credit card payment, please call our Office Manager at (816) 561 1818.
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