Is It Possible to Have Student Loans Forgiven?
In the United States, student loan repayment is a current topic of discussion due to the number of people who are in debt. The student loan crisis has created the need for the government to implement a forgiveness plan for borrowers. The plan forgives the debt of certain individuals who hold particular jobs. This benefit isn’t for all people who have student loan debt and its intricacies play a major role in deciding who is eligible to take part in this program. A Robertsdale AL bankruptcy law firm can advise clients if they qualify for this student loan forgiveness plan. Our bankruptcy attorney in Robertsdale thoroughly know the requirements for this plan and can show you what needs to be done to claim this benefit.
Student Loan Forgiveness
The United States’ current loan forgiveness plan has a list of eligibility criteria to qualify. Before an application is submitted, an applicant should familiarize themselves with what is necessary to apply. The main requirements are:
•Applicant must have made at least 120 (10 years) of payments under designated payment plans
•Applicant must be employed in full-time status
•Applicant must be employed in a designated field of work
While these basic requirements seem straightforward, there are additional rules to each one. Lawyers at a Robertsdale AL bankruptcy law firm can give exact details about the plan as they describe what you need to do to satisfy the criteria. They can also show what documents are needed from your employer as you prepare to submit the application to the government.
If you’re in need of a bankruptcy attorney in Baldwin county, contact the Loris Law Firm. Our professional attorney specializes in helping clients manage legal matters pertaining to financial issues so that they can work to eliminate their debt. Contact our office for a consultation to have your questions answered.