Little Rock Student Loan Attorneys

Student Loan Debt Relief – Little Rock, AR

Feeling crushed by student loans? We get it. It’s not uncommon to feel overwhelmed by student loan debt. Many folks across America are in the same boat. But there is hope! 

There are options for student loan debt relief Little Rock citizens can take advantage of. These include different federal student loan repayment plans available for students who want to modify or recalculate their debt, and we are here to help you navigate them.

Below, we explore your student loan repayment options. These include possible choices like forbearance, deferment, income-driven repayment plans, and more. We’ll show you how they can help break the cycle of student loan payments and get you back on the right financial track.

At WH Law, we truly listen to your concerns and fight for what you deserve. We’re not just any lawyers — we’re the down-to-earth, easy-to-talk-to team you need.

Our team of Little Rock student loan lawyers has years of combined legal experience assisting Arkansans in navigating life’s most difficult financial circumstances. This allows us to analyze your financial profile and determine your eligibility for particular benefits.

So, if you’re in need of guidance through troubled financial straits, call us. We’re ready to help. 

Can You Discharge Student Loans in Bankruptcy?

One of the most common student loan repayment questions is whether you can discharge your student loans when you file for bankruptcy. The short answer is, normally, no. 

Student loan borrowers aren’t generally able to get their loans discharged. Student loans are now the second-highest consumer debt category — behind mortgages but ahead of credit card debt. 

Unlike other consumer debt, such as credit card and mortgage debt, however, student loans cannot traditionally be discharged in bankruptcy.

In some circumstances, student loans can be discharged, but you have to file a separate lawsuit, called an adversary proceeding. This lawsuit must be filed with the bankruptcy court. 

To successfully discharge your student loans, you must prove to a judge that being forced to repay your student loans poses what the U.S. Bankruptcy Code calls an “undue hardship.”

You can get your student loans canceled if you qualify.

In the Eighth Circuit (which includes Arkansas), the courts look at your personal situation to decide if keeping student loans would cause you undue hardship. This is called the “totality of the circumstances test.”

This test considers three main points:

1. Your past, present, and future financial resources.
2. Your reasonable and necessary living expenses.
3. Any other relevant factors.

How Can I Discharge My Student Debt? 

When dealing with student loans and bankruptcy, there are a couple of things to think about. In Chapter 7 bankruptcy, your loans will not likely get discharged, and dealing with your student loans will remain the same. 

However, in Chapter 13 bankruptcy, you may be able to file and make the majority of your payment go to student loans while your other creditors (maybe credit card and medical bills) do not get paid as much. 

Filing for Chapter 13 may also allow you to pay your other creditors (such as your mortgage or car loan lender) and push your student loans for another five years.

Your best option for dealing with student loans outside of bankruptcy is probably one of the following income-based repayment options:

• Revised Pay As You Earn Repayment Plan (REPAYE Plan)
• Pay As You Earn Repayment Plan (PAYE Plan)
• Income-Based Repayment Plan (IBR Plan)
• Income-Contingent Repayment Plan (ICR Plan)

Sometimes, you can get a payment of $0.00 per month in an income-based repayment program.

Student Loan Legal Advice Little Rock Process

We know that student loan debt can feel like a mountain, but we’ve got the tools to help you climb it. Whether it’s loan consolidation, income-driven repayment plans, or even bankruptcy, WH Law’s experienced Little Rock student loan attorneys are ready to explore every avenue of student loan legal advice in Little Rock with you.

The first and most essential step is to get an evaluation of your debt from one of our knowledgeable attorneys. After they complete their analysis, you will be advised on your options depending on the qualification standards required by the Federal Government and Department of Education.

There is no obligation to use our firm after the first evaluation. If you want a copy of your analysis and our contact information, please let us know. We can help you now or later if you decide to wait.

Every financial situation is unique, and we believe your plan should be, too. We’ll sit down with you, understand your specific needs, and craft a strategy that works for you. Plus, we’re with you at every step, from filling out forms to standing by you in court if needed.

Choose to handle your student debt responsibly. You don’t have to give up the quality of life or peace of mind, especially because there may be alternative choices available to you. Call us at (901)-499-4694 to get the legal help you deserve.

Student Loan Management Programs

When looking for a dedicated student loan law firm, Little Rock residents can feel more assured with us. WH Law’s experts can determine your eligibility for each of the nine federally approved student loan repayment programs after a thorough examination of your student loan records, financial status, and earnings. Each plan has its own set of rules regarding debt forgiveness, consolidation, or restructuring.

The analysis will provide our experienced staff with the information necessary to advise you on the best actions to take to maintain a healthy financial profile and reduce the burden of your student loans.

Student Loan Repayment Options

With our professional analysis, we look at your annual income, monthly payments, the federal loans you have, the federal repayment plans, and whether your loans are eligible for any federal student loan repayment programs. 

There are many different loan repayment options with different names (public service loan forgiveness, income-contingent repayment plan, income-driven repayment plan, extended repayment plan, income-based repayment plan, graduated repayment plan, income-sensitive repayment plan, pay as you earn, etc.)

Figuring out what student loan repayment plan you need or possibly loan forgiveness is difficult. The repayment options that are available typically fall into four categories:

Affordable Monthly Payments 

You may be able to qualify for lower monthly payment amounts based on your income rather than your debt, ensuring that your payment is always reasonable. 

You may have heard of options like an income-driven repayment plan, income-contingent repayment plan, income-based repayment plan, extended repayment plan, or pay-as-you-earn plan. These are typically based on your income and family size.

Loan Forgiveness

Determine if you’re eligible to have the federal government forgive part or all of your student loans. You may not be eligible if you have private loans.

Default Resolution

Combine your defaulted student loans into a new federal student loan and cure any outstanding defaults.

Consolidate Your Payment

All your federal student loans can be combined into a single loan with one easy monthly payment to a single loan servicer.

Your Journey to Financial Freedom Starts Here

Don’t let student loan debt keep you up at night. For those in need of a seasoned student loan law firm, Little Rock citizens have WH Law. Reach out to us today for a free consultation. Let’s tackle this together and pave the way to your financial freedom. We promise to treat you like a person, not just another case.

Ready to take the first step? Contact WH Law in Little Rock now. Let’s get started on your path to a debt-free future. Contact us today.