If you are in default on your student loan or multiple loans, you are not alone. The repayment and inability to defer payments when financial hardships hit can cause past due and penalty amounts to add up quickly.

We can help you if you are in default on a private student loan. We can help get you obtain a lump sum settlement with a substantial discount on the amount you actually owe. This is an opportunity to reset your debt amounts and take control of your finances.

We offer a free consultation for individuals in the Atlanta area that you may attend in our office or virtually over your smartphone, laptop or other device in the comfort of your home.

Student Loan Debt Settlement

Debt Settlement May Be an Option for Some Student Loan Types

In today’s economic landscape, you may have had to take out a mixture of federal and private student loans to pay for your education. Now the bills are due. The professionals at Debt Freedom Georgia can protect your borrower’s rights while you repay your debts. It is stressful to have collectors calling and mailing asking for the next payment. Our professionals can negotiate terms for settlement to keep the collection departments at bay.

Can Federal Student Loans be Settled?

No. Federal student loans are distributed by the government. Private student loans are provided by private lending institutions and are awarded based on your credit. Unfortunately, you can only settle private student loans. ** We are not currently taking federal student loan cases. For help with your federal student loans we recommend you visit studentaid.gov to learn about your options. If it’s private student loans you’re struggling with, our Atlanta, GA student loan lawyer can help you understand your private student loan situation and develop a plan to deal with it. Get in touch with our office today to get started through an in-person or virtual consultation.

Understanding Your Student Loans

Types of Federal Student Loans

Stafford loans are available subsidized and unsubsidized. With subsidized Stafford loans, the government will pay the interest during deferment. If the loan is unsubsidized, interest will continue to pile up during deferment periods.

PLUS loans are the only federal loans that require good credit. These loans are taken out by parents for their children in undergraduate programs or graduate students.

The funds for Perkins loans come directly from schools. Schools can hire debt collectors to collect late Perkins loan repayments or transfer the collection responsibilities to the Department of Education.

** We are not currently taking federal student loan cases. For help with your federal student loans we recommend you visit studentaid.gov to learn about your options.

Student Loan Bankruptcy

Contrary to popular belief, it is actually possible to discharge some private student loans in bankruptcy. One of the qualifications is if your private student loan was for attendance at a non-accredited school. Another qualification is if the amount of your student loan, when combined with all other financial assistance, including federal student loans, exceeded the cost of attendance at your school. Talk to our knowledgeable student loan attorneys if you want to know if your private student loan could be discharged in bankruptcy.

To narrow down to a decision on whether or not you should make an appointment for a complete Private Student Loan Analysis? Ask yourself the following questions:

  • Are you receiving calls from debt collectors?
  • Being threatened with wage garnishment, social security offset, or tax refund offset?
  • Being sued for a student loan?
  • In default but not sure how to get out?
  • Wondering if you qualify for a discharge?
  • Thinking about bankruptcy?

If you answered YES to any of the above, please read the rest of this site to learn more about us and the services we provide. Then, schedule a free 15-minute Private Student Loan Analysis, either at our office or via a virtual meeting. Our goal is to demystify private student loans – what can and cannot happen, what options you have, and how to deal with your loans to put you in control.

Frequently Asked Questions

Debt Freedom GA understands that you may have questions about your student loans and the debt relief process. Here are some answers to common questions we receive. For more specific guidance, feel free to call Debt Freedom GA at 404-913-6992 about your specific loan status.

How do Student Loan Settlements work/What is a Private student Loan?

To start you have to understand there are Federal and Private student loans and each is handled totally differently. Federal student loans come from the government’s Department of Education. Private loans come from banks like Wells Fargo or other private lenders. Federal Student loans are impossible to settle, so we recommend you consider getting on an income-based repayment plan (IBR) and try to achieve forgiveness through that program. If you are currently in default on your federal student loans, please check out the helpful information here: https://studentaid.gov/manage-loans/default/get-out. Private student loans on the other hand can be settled in many cases for 40% to 80% of the balance owed.

What are the benefits of Hiring Debt Freedom GA to handle your Student Loan Debt?

Debt Freedom GA has been helping folks in north Georgia for over many years. We handle the widest range of debt problems, from Bankruptcy, Chapter 7 and Chapter 13, loan modifications, foreclosure defense, debt defense, debt settlement, and private student loans. Brandon Honsalek is a graduate of the prestigious Student Loan Law Workshop and one of only a handful of attorneys in Georgia specially trained by national student loan expert Josh Cohen.

What is the Process?

The process starts with a phone consult to determine the best course of action. After that we schedule an appointment with Mr. Honsalek either in person or virtually. All services are flat fee, or for settlements, our fee is based on a percentage of savings from the settlement.