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Over the past ten years, Arizona bankruptcy lawyers have experienced a strong increase in the connection between clients’ mortgage-related problems and their interest in bankruptcy. As Chapter 7 or Chapter 13 bankruptcy applicants, debtors can immediately stop foreclosure and creditor harassment, while regaining their financial footing.
A recent survey indicates that debt relief attorneys nationwide are now noticing a major increase in the number of potential clients who are troubled by student loan debt. A report published by the National Association of Consumer Bankruptcy Attorneys (NACBA) found that 80 percent of the 860 lawyers surveyed say that student loan issues have increased “significantly” or “somewhat” over the past four years.
The authors of “Student Loan ‘Debt Bomb’: America’s Next Mortgage-Style Economic Crisis,” provide a variety of relevant factors to help explain this growing problem:
- The average college graduate in 2010 had accumulated over $25,000 in debt
- School debt burdens have recently increased by almost 50 percent among students who are in their 30s and 40s
- 95 percent of bankruptcy lawyers say that few educational borrowers have a chance of meeting the “undue hardship” standard for obtaining a discharge of college debt
- Two-thirds of bankruptcy attorneys report that collection efforts by student loan providers have become more aggressive in the past 18 months
While student debt is generally not subject to a bankruptcy discharge, seeking legal advice about student loans from a debt relief lawyer is still a sound idea. The Chapter 13 bankruptcy process can spell relief that allows a borrower to get caught up on their student loan payments while gaining significant relief from other obligations.
Schedule a free consultation to discuss your situation at one of our law offices in Phoenix, Scottsdale, Tempe, Avondale or Prescott. Call 480-845-0145 today.
Why should you hire our firm to represent you in bankruptcy?
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What our clients are saying…
Mr. Wright and his staff were amazing. They made a negative situation a lot better and turned it into a positive. Could really tell they care helping people and I will refer their Phoenix Bankruptcy Attorney firm to friends and family. Thanks again.
I called around looking for the right bankruptcy lawyer and came across Benjamin Wright. He personally called me for the consultation seeing how I live in Kingman AZ. He was very helpful from the start and his staff was very friendly and explained any questions I had, sorry for all the questions. I would definitely recommend Wright law offices, and I do!! Thanks for everything, you made what seemed like a hard thing to do simple!! You guys rock!!!
Great lawyer, he really helped my mother out of a jam. She was totally new to bankruptcy and he talked with us for about an hour and a half to make sure she wouldn’t be worried.
Ben is a kind and down to earth attorney. He worked around my busy schedule as a single mom (school, full-time job, and daycare pick up and drop off times). He explained absolutely everything to me and was good about e-mailing. I am writing this review as a THANK YOU.
I had a very positive experience with Attorney Wright. He or his staff returned my e-mails and calls promptly (even after business hours occasionally). His fees were reasonable. He was patient with me when I showed up in court missing an important document. He is aggressive, but fair and nice.
How does Chapter 13 bankruptcy work?
For individuals who maintain a steady income but are grappling with debts that need more time to be cleared, Chapter 13 bankruptcy could provide a viable solution. This form of bankruptcy enables debtors to retain their property while adhering to a three to five-year repayment plan. In Scottsdale, the bankruptcy attorneys at Wright Law Offices utilize their expertise in developing personalized Chapter 13 plans that are uniquely designed to suit your circumstances and work in your favor.
What role can a lawyer play in tackling credit card debt?
When credit card debt spirals beyond control, the feelings of isolation and stress can be daunting. However, with a knowledgeable lawyer by your side, the situation can be transformed significantly. Lawyers are experienced in negotiating with formidable credit card companies, often succeeding in achieving reduced interest rates or a minimized debt total. At Wright Law Offices, located in Phoenix, our committed legal team stands ready to help you take back control of your financial situation and direct you towards other potential debt relief avenues like bankruptcy.
What happens when foreclosure is knocking on my door?
The prospect of foreclosure can make it seem like your world is tumbling down. Yet, it's vital to remember that there are legal routes available to navigate this challenging situation. Foreclosure is a process initiated by lenders when mortgage payments are overdue, leading them to recover their loan by selling your property. While it sounds intimidating, our adept team at Wright Law Offices in Tempe is here to assist. We guide you through every step of the process, thoroughly exploring all viable options, such as loan modification, bankruptcy, or even contesting the foreclosure in court.
What is a tax debt lawyer's role?
Being in debt to the IRS can create enormous stress. However, a tax debt lawyer can intervene and significantly improve your situation. They're skilled in negotiating a viable payment plan with the IRS, striving to reduce the tax debt you owe, and in certain scenarios, even getting penalties and interest absolved. The proficient team of Scottsdale tax debt lawyers at Wright Law Offices is committed to helping you face this challenge with optimism. Leveraging our deep knowledge of tax law, we're dedicated to securing the best possible outcome for every client we represent.