Whether your rights have been violated or you’re facing a lawsuit, there may come a time when you need the help of a legal expert. These situations can be stressful, but a reputable attorney can look out for your best interests and help you maneuver the complex legal system.
If you are a student loan borrower, you may not realize the benefits of working with a student debt lawyer. So what does a student loan attorney do, exactly? And when should you consider hiring one?
What Does a Student Debt Lawyer Do?
The world of student loans is more confusing than ever. Student loan debt is at an all-time high, and there are multiple types of loans, repayment plans and forgiveness programs. Not to mention, the laws surrounding student loans can be complicated.
Student debt lawyers specialize in federal and private student loan-related legal issues. A student debt lawyer can help navigate the various repayment options for your loans, and negotiate with lenders if you need to change the terms of your agreement or resolve a dispute.
They can also advise you of your legal rights and options if you end up in court. While getting student debt discharged in bankruptcy can be tricky, a student loan lawyer can help determine whether you’re eligible for a discharge of your student loan debt and represent you in bankruptcy proceedings.
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In other words, a student loan lawyer helps borrowers make sense of a complex system.
According to Stanley Tate, a student loan attorney with Tate Law, inexperience may add thousands of dollars of interest to your loan balance, cost you access to various student loan forgiveness programs, or increase your monthly payments.
It’s also important to understand what a student loan lawyer doesn’t do. Typically, Tate says, student loan lawyers don’t sue lenders, servicers or schools for:
- Engaging in predatory lending practices.
- Misleading students about the quality of their education.
- Misrepresenting possible career earnings after graduation.
“Those types of cases are a better fit for state attorneys general, consumer rights firms and consumer advocacy groups,” he notes.
Reasons to Hire a Student Debt Lawyer
There are a number of reasons to consider hiring a student loan lawyer. Some situations that would warrant getting legal help include:
You’re having trouble making payments. Falling behind on student loan payments comes with a host of consequences, such as late fees and damage to your credit. Additionally, allowing your loans to go unpaid for an extended period puts you in default. At this point, the entire balance of your loan becomes due immediately.
You’re in default. If you’ve already missed many student loan payments and are now in default, you are ineligible for government-backed benefits and protections such as deferment, forbearance, alternate repayment plans and loan forgiveness. You could also face garnishment of your wages and tax refund, or even a lawsuit. It’s important to get back in good standing as soon as possible.
A student loan lawyer can help you understand your options for getting out of default, such as loan rehabilitation or consolidation, and represent you in court if you are facing wage garnishment or other legal actions.
“If your debt is in collections, hiring a lawyer to negotiate with the collectors is also a good idea,” said Lyle Solomon, principal attorney at Oak View Law Group. “They can help you minimize the amount you pay and the negative effect on your credit score.”
As part of COVID-19 relief measures, federal student loan payments and collections efforts have been paused since March of 2020. However, payments are expected to resume at the end of August 2023.
You’re in a dispute. If you’re facing a major disagreement with your lender, a student loan lawyer can help you negotiate or even file your own lawsuit, if necessary. Such issues may include being charged incorrect fees or interest rates, or being denied benefits you believe you are entitled to.
You’re considering filing for bankruptcy. Although it’s not an ideal solution, sometimes filing for bankruptcy is necessary – especially if you have a large amount of high-interest consumer debt on top of your student loans. It’s usually a good idea to consult with an attorney about whether bankruptcy is the best solution, as well as what type of bankruptcy best applies to your situation. A bankruptcy or student loan lawyer can also help you determine if your loans are eligible for discharge and represent you in bankruptcy court.
You’re the victim of fraud. Unfortunately, some student loan borrowers have taken on more debt than necessary due to fraudulent practices on the part of schools, debt relief companies and other entities. For instance, billions of dollars in student loan debt has been discharged for students who attended for-profit colleges that were deemed to have misled students.
If you believe that you were the victim of fraudulent activities – such as being enrolled in a school that was not accredited, misrepresented the quality of education, or distorted the likelihood of job placement – a student loan lawyer can help you file the necessary applications and add credibility to your case. This may increase your chances of getting the debt discharged, according to Solomon.
In general, if you’re facing any issues related to your student loans and are unsure of your legal rights and options, it may be worthwhile to consult with a legal professional who specializes in student loans.
How to Find a Reputable Student Debt Lawyer
If you decide to bring on a student loan attorney, it’s important to find the right person to help. There are many reputable attorneys available, but not everyone has the credentials and expertise they claim. It’s important to verify qualifications, including education, training and certifications. Ensure they have the necessary expertise, and that they’re in good standing with the state bar association.
Tate says there’s no central database of student loan lawyers, so it may take some searching around. Consider:
- Checking online directories. Websites such as Avvo and Martindale-Hubbell allow you to search for attorneys by practice area and location. You can read reviews from past clients and see ratings and credentials for each attorney.
- Contacting bar associations. State and local bar associations often maintain directories of attorneys in various practice areas. You can contact them directly or search online.
- Asking for referrals. You can also turn to friends, family members or colleagues who may have worked with a student loan attorney in the past and can recommend someone trustworthy. If you’ve worked with other types of attorneys, such as an estate or divorce attorney, you can also ask them for a referral.Â
“After you shortlist a few lawyers, schedule a consultation to discuss your case and understand their expertise and approach,” Solomon says. “Many lawyers offer free consultations, so take advantage of this to find the right fit.”
To help make the most of this meeting, Solomon recommends coming prepared with some questions. For instance, consider asking:
- Have you worked on cases similar to mine? What were the outcomes?
- How will you keep me informed throughout the process?
- How do you charge for your services, and are there any additional costs I should know about?
- Can you provide references from past clients?
“Ensure you choose a lawyer who communicates well and is responsive to your needs,” Solomon adds.
