You’re not alone. According to most recent statistics, the number of people defaulting on payments on student loan debt is soaring. That should be no surprise to anyone. While going to college or grad school is no longer a ticket to immediate job security, there is no doubt that getting a good education will, on average, lead to a better financial outcome. But now you’re out of college. What about now?
Struggling with Living Expenses, Too?
If you were struggling to pay normal living expenses while going to school, or have incurred expenses since graduating, you may have found it necessary to finance these expenses by using your charge cards. Now, you really have a dilemma.
For years, you were told that having good credit was the only game in town. But now you are paying minimum amounts on the cards and maybe (or maybe not) there is money left over for the student loans. Heaven forbid you would miss a credit card payment!
Another Option for Former Students
Maybe you need to take a fresh look at this. Maybe, just maybe, you could be making your decision without really understanding the ramifications.
In certain circumstances, it actually makes more sense to consider bankruptcy to get rid of the credit card debt.
"Bankruptcy? No way! I don’t want to lose my car! I don’t want my credit to be screwed up for years! I’ll never get credit again!"
Your Things Are Safe With Us
In almost all bankruptcies, the person who is filing loses nothing. When you meet with an attorney at Steidl and Steinberg, we will let you know if there is any chance that you will lose anything before we file papers on your behalf .
Further, your credit might be very poor for a longer time if you continue to try to eke out payments without filing a bankruptcy, especially if you are going to be late or unable to make the payments at all.
Before you listen to all of the know-it-alls who aren’t affected by your financial situation, call us. We are sympathetic since we all have had student loans or still have them now. Get the facts from a Pittsburgh bankruptcy attorney. We want to help.