Bankruptcy doesn't have to be something bad.
It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Consolidating Your Student Loans

Student loans can be difficult to cope with once you have graduated from college. When the economy is doing poorly, it can be quite difficult to find employment, making paying off your student loans extremely difficult. One way to ease this process of debt repayment is to consolidate your student loans. This process can allow you to reduce your interest rates, simplify your payments and lengthen your repayment term.

Deciding if Consolidation Is Right for You

While there are many advantages to consolidating your student loans, it still may not be the best course of action for some people. Each situation is different, and if you have a combination of federal and private student loans, you may be facing very complicated issues associated with your consolidation plan. These two types of loans cannot be combined.

Federal loans, as well, are based upon fixed interest rates, which eliminates any chance of capitalizing on a low rate through consolidation. Debtors can still gain the benefit of only having to write out one monthly check through federal loan consolidation, but they cannot lock in a lower interest rate.

Finally, if you have the money to pay off your debts, then consolidating them into a single, longer-term loan can actually add significant costs to your plan. The extra interest you will pay over the years can add up to be several thousand dollars of extra money owed.

However, if you need lower monthly payments or are having trouble keeping track of your loans, then consolidation may be the solution for you.

Contact Us

If you would like to learn more about consolidating your student loans, or if you are considering filing for bankruptcy, then Birmingham bankruptcy lawyer Paula Greenway can help. Contact our offices today by calling (205) 324-4000.

"When I had my power cut off because I just didn't have the money to pay the power bill, a friend suggested I call Paula Greenway. From the moment I walked in her office I felt like a burden was lifted from my shoulders."
Robin M
"I would just like to say that I was impressed by the staff of Greenway Bankruptcy Law, LLC and their attention to professionalism. They made the bankruptcy process not only pleasant but simple."
Jennifer S.
I can't tell how comforting it is to know your attorney is working on your case. I would and have recommended their service to friend and associates."Ed H.
"I would like to thank Greenway Bankruptcy Law, LLC for the way in which they handled my bankruptcy case."
Robert M.
Schedule an Appointment
In the News

Greenway Bankruptcy Law, LLC
505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
Tuscaloosa: (205) 737-3350
Gadsden: (256) 467-6650

home  |  firm profile  |  practice areas  |  articles  |  faqs  |  blog  |  contact us  |  evaluation  |  sitemap  |  Log in
Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

Greenway Bankruptcy Law, LLC 505 20th St N #1220, Birmingham, AL, 35203 | Phone Number: (205) 324-4000