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Student loan interest rates to double Atlanta, GA

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Student loan interest rates to double

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If you are an Atlanta resident who has attended college in recent decades, the chances are that you financed it with student loans. Student loan borrowing has become the primary method of financing higher education in the U.S. With tuition the way it is, it seems as though only the very wealthy can manage to pay for college out-of-pocket.

Unfortunately, many students are ill-prepared to take out student loans when they sign on for them. Recent news reports have shown that a number of students do not have a solid understanding of interest rates, or a feasible plan for paying back the debt, when they take out loans. This has led to significant financial trouble for a number of Americans.

Adding insult to injury, it now appears that the interest rate on subsidized Stafford loans may actually double.

Leaving college with a significant amount of debt, and a high interest rate, can be very troublesome for Georgia residents. Carrying a heavy debt-load from your days as a student might make it difficult to do things like purchase a car or home. It might also become an unbearable burden should you ever suffer a spell of unemployment.

The debt relief options for those with unsustainable amounts of student loan debt are limited. Student debt is one of the very few types of debt that generally cannot be discharged in bankruptcy; it can only be discharged if you can prove undue hardship.

Nonetheless, some people with significant amounts of student loan debt may want to consider Chapter 13 or Chapter 7 bankruptcy. A Chapter 13 filing can help you consolidate your payments, resulting in lower monthly payments. This might be a good option if you have a steady income or little other debt.

For others, a Chapter 7 filing may be the answer. Chapter 7 bankruptcy will discharge all or most of your other debt, so that you will have the funds available to handle your student loans.

These are not decisions to take lightly. Those who are considering bankruptcy as an answer to student loan debt should evaluate their options with the assistance of a bankruptcy attorney.

Source:¬†The Huffington Post, “More Debt. Little Understanding. Big Problems.” Paul Combe, June 28, 2013

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

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Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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