boston lawyer who specializes in student loan debt

Who is the best lawyer for student loans in Massachusetts?

Attorney Adam S. Minsky is licensed in Massachusetts, New York, and Vermont, and is one of the nation’s leading authorities in student loan law. He remains one of the only lawyers in the country with a practice devoted to helping student loan borrowers.

Do you need a lawyer to settle your student loan debt?

With tuition costs also soaring, private student loan debt has ballooned to crisis levels in this country. If you find yourself with less income than you anticipated and unable to keep up with student loan payments, there is help with an attorney negotiated student loan debt settlement.

How can attorney Minsky help you with student loan debt?

The designation is awarded only to the top 2.5% of attorneys in Massachusetts, and it reflects Attorney Minsky’s ongoing work helping student loan borrowers and their families. Attorney Minsky started his practice nearly nine years ago with a mission to defend, protect, and advocate for people saddled with student loan debt.

How does student loan debt settlement work?

How Student Loan Debt Settlement Works Under our student loan debt settlement program, a licensed attorney contacts your student loan lenders and begins a negotiation process to significantly reduce the interest AND principal the lender claims is owed.

Is there a class action lawsuit for student loan forgiveness?

Last week, a major settlement agreement was announced to resolve a lawsuit brought by several state attorneys general against Navient, one of the nation's largest student loan companies. Under the terms of the settlement, some borrowers will be eligible for student loan forgiveness or restitution.

Who should you contact if you have trouble paying student loans?

Contact the Department of Education's (ED) Office of Federal Student Aid (FSA) if you have questions about your loans or payments.

Can I sue for my student loans?

After you default on a federal student loan, the lender might file a lawsuit against you seeking payment. While suits for unpaid federal student loans aren't very common because the government has many other ways to collect outside of court, they sometimes happen.

How can I get rid of student loans legally?

Here are seven legal ways you can get out of paying your student loans.Public Service Loan Forgiveness. ... Teacher Loan Forgiveness. ... Perkins Loan cancellation. ... Income-driven repayment plans. ... Disability discharge. ... Bankruptcy discharge. ... Get an employer who will pay off your loans.

What if I can never pay off my student loans?

The longer you go without paying your student loans, the more your credit score may tank. Potential lawsuits. Your original lender could sell your loan to a debt collection agency, which can call and send you letters in an attempt to collect a debt. To garnish wages, lenders will need to go through court.

How can I get student loan forgiveness from Covid?

No, there is no coronavirus-related loan forgiveness for federal student loans. The Department of Education and your loan servicer should be your trusted sources of information about official loan forgiveness options. You never have to pay for help with your federal student aid.

At what age do student loans get written off?

Undergraduate loans are forgiven after 20 years, while graduate school loans are forgiven after 25 years.

Are student loans forgiven after 7 years?

Do student loans go away after 7 years? Student loans don't go away after seven years. There is no program for loan forgiveness or cancellation after seven years. But if you recently checked your credit report and are wondering, "why did my student loans disappear?" The answer is that you have defaulted student loans.

How long until student debt is written off?

30 yearsIf you have a Plan 2 loan, it will be written off 30 years after the first April on which you were due to repay it.

Are student loans automatically forgiven after 20 years?

Borrowers who have spent time in repayment for at least 20 or 25 years will have their federal loans automatically forgiven.

Are student loans wiped after 25 years?

Any outstanding balance on your loan will be forgiven if you haven't repaid your loan in full after 20 years or 25 years, depending on when you received your first loans. You may have to pay income tax on any amount that is forgiven.

Are student loans forgiven after 10 years?

As part of the federal program, any eligible borrowers are able to have their loans cleared after 10 years if they meet some qualifying requirements.

How can a student loan attorney help me?

Student loan attorneys can provide you with legal advice, represent your interests during negotiations or lawsuits, resolve delinquencies, protect...

Am I able to discharge a federal student loan without having to file bankruptcy?

In most situations, neither federal student loans nor private student loans are eligible to be discharged in bankruptcy. However, in some cases, yo...

What is the difference between federal student loans and private student loans?

While federal student loans are offered by the government, private student loans are offered by private-sector lenders. Interest rates for private...

What are the costs of hiring a student loan lawyer?

Our services are offered on a flat fee basis calculated as a percentage of the debt. Typically, we can settle our clients’ debt for 55-60 cents on...

Why do you need a student loan lawyer?

Here is the main reason you need a student loan lawyer to fight for you and protect you against student loan lenders , such as Navient, Discover, National Collegiate Trust, etc. — there is A LOT of money exchanging hands in the student lending market.

What happens at the end of a student loan settlement?

At the end of a successful student loan settlement, the borrower ends up paying only a fraction of the original balance claimed by the lender. The rest of the debt is forgiven by the lender and the settlement is a full and final settlement of the debt, leaving the borrower without the burden of student loan debt going forward.

Why are the Corinthian 15 protesting student debt?

Or there is the story of the “ Corinthian 15 ” who are protesting student debt because there for-profit school, Corinthian College, illegally pushed predatory loans on their students after lying to them about career assistance and job prospects.

What are the two main types of student loans?

There are two main categories of student loans: federal and private. Federal student loans, such as Stafford Loans are backed by the federal government and are highly regulated. We do not work with federal student loans. On the contrary, private student loans may be issued by well known banks, like Citigroup or Chase Bank.

Is student loan debt higher than ever before?

Consequently, student loan debt has soared, higher than ever before. In particular, many were forced to take out higher interest rate private student loans, not backed by the federal government. Some less scrupulous schools lured people into education programs with promises of high paying jobs that never materialized.

Can you get a higher interest rate on a private student loan?

Interest rates for private loans are generally higher, cannot be forgiven, and are never subsidized. However, private student loans are not need-based so you can qualify for a higher loan amount if you have good credit.

Can you file for bankruptcy with a student loan?

In most situations, neither federal student loans nor private student loans are eligible to be discharged in bankruptcy. However, in some cases, you can have a federal student loan discharged if you experienced serious problems with your school, worked in public service, or have a severe disability.

Targeted Student Loan Services

There’s no one-size-fits-all approach to student loans. Are you fresh out of school, or dealing with student loans from years ago? Are you the primary borrower on a student loan, or the cosigner? Are you making payments, or have you fallen behind? Whatever your unique situation, Attorney Minsky may be able to help. Learn more.

Trusted Student Loan Expertise

Attorney Minsky has helped hundreds of student loan borrowers and has built a national reputation for his student loan expertise and individualized focus. Read testimonials from former clients.

Customized, Personal Attention

When you work with our office, you work with Attorney Minsky personally – never a call center, a bureaucracy, or a nebulous “network” of people who you’ve never heard of. Meetings are conveniently held via Zoom, Skype, or phone conference.

Books by Adam S. Minsky

The #1 guidebook for lawyers with student loans, with roadmaps for specific attorney career paths. Published by the American Bar Association.

What to discuss with a student loan lawyer?

When you meet with a student loan lawyer, you’ll start by reviewing your entire financial situation. This includes the types of student loans you have, the balances, the payments, and any other relevant facts such as when you went to school, your payment history, and your current employment.

Why are student loans better than other loans?

Federal student loans have an advantage when it comes to lowering monthly payments because there are repayment plans available and other programs to help with monthly payments. The income-driven repayment plans offered by the federal government allow individuals to base their monthly payments on their income.

What is an eligible institution for student loans?

Eligible Institution: The college or university at which a private student loan borrower is enrolled must be an eligible institution. It is important to look for institutions that are unaccredited. Student debt is a problem for millions of people and many do not believe there are opportunities to get out of this problem.

How long can you default on a student loan?

Defaulting on student loans, whether federal or private, can have huge repercussions on your loans. Once one payment on a federal loan is late for more than 270 days, your loan balance is subject to a 24.5% addition to the balance of the loan and you can default multiple times.

Can a student loan attorney eliminate a student loan?

Yes, it’s entirely possible that a student loan attorney can eliminate the entire student loan in the right circumstance. Since everyone’s situation is different, a student loan lawyer can explain the best course of action for you. The advice will be tailored to your exact circumstance.

Can student loans be discharged?

The truth is student debt can be discharged in several ways and there are many programs out there to help with student debt. The problem is there is not a lot of information available to student loan holders and there are very little professionals out there that understand the many options available.

Why Finding a Student Loan Attorney is Difficult

If you are having difficulty finding an attorney to take on your student loan case, it doesn’t necessarily mean you have a bad case. It is difficult to find a student loan attorney because there are so few. Even though student loans affect millions in the U.S., few attorneys are knowledgeable on the laws surrounding student loan issues.

Step Number One: Familiarize Yourself with the Relevant Student Loan Law

Don’t worry. You don’t need to be a legal scholar to get through this step. You just need to familiarize yourself with the basics of the relevant laws. The Internet provides a good resource for doing this. There are often websites, such as this one, that provide a broad overview of the concepts you’ll need to be aware of.

Step Number Two: Explain the Relevant Facts of Your Case

One of the most frequent mistakes we see people make when they’re explaining a legal situation is that they skip over important facts and focus on irrelevant details.

Step Number Three: Show That the Law is on Your Side

Legal research can be both expensive and time-consuming. If you can find cases, ideally in your court’s jurisdiction, you can save your attorney some time and convince them that you have a winnable case. This is another place where the research you did before can come in handy.

Step Number Four: Have Realistic Expectations

For many attorneys time is money. You will likely be asking them to step outside of their typical area of practice. Many attorneys prefer to stick to their niche and not stray into other types of cases. When you discuss what you are looking for, be sure to get to the point.

Circumstances When a Student Loan Lawyer May Help

There are some common scenarios where hiring a student loan debt lawyer may be a good idea, such as when:

How to Find a Student Loan Lawyer

Because student loan issues can be complex and ever-changing, it’s important to find a lawyer who specializes in them. Here are some resources that can help.

How to Vet a Student Loan Lawyer

Most lawyers will offer a phone or video consultation for free. During this time, ask how many people they’ve helped with your specific issue. Get a feel for how experienced and comfortable they seem with your problem. Also consider how comfortable you are with the attorney. For example, can they answer all your questions in terms you understand?

Get to Work

Once you choose a student loan lawyer, assemble the related documents before your first official meeting. These may include monthly loan statements, proof of payments, letters from the lender, copies of online communication, previous tax returns and more.