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It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Birmingham student loan debt among highest in the country

A recent study by the analysts at WalletHub shows Birmingham is within the top two percent of the most debt-stricken cities in the country.

The consumer finance website conducted their study by weighing median incomes against average loan amounts in 2,513 cities in the U.S. The report found that there were 10 cities in Alabama where resident’s incomes are insufficient for paying student loan debt. For example, a typical Birmingham resident between 25 and 44-years-old with an annual income of $33,081 has an average student loan debt of $35,893. Birmingham ranked third worse in a list of 10 Alabama cities where average student loan debt is higher than annual income.

If you are struggling to pay your student loan debt in Birmingham, a lawyer at Greenway Bankruptcy Law, LLC may be able to help you. Our lawyers work to make it possible for you to have a fresh financial start. Learn more about your personal financial options by calling (205) 324-4000.

Workable tips student loan borrowers may consider

Student loan borrowers who are facing trouble repaying their balance may consider the following tips in order to best manage their debts:

• Be sure to closely review the terms of your loan as there will likely be a range of repayment options available.
• Individuals may want to consider merging their various loans in order to pay one balance at a lower monthly rate.
• Individuals who are having difficulty finding a job may consider requesting deferment or forbearance to temporarily delay repaying their student loan note.
• Borrowers may want to find out if they qualify for repayment plans based on their individual income.

Aside from these helpful tips, enlisting an experienced student loan attorney may be indispensable for those in more serious situations. Our attorneys are experienced in handling and managing student loan debt for people doing their best to stay financially afloat. Find out how the Birmingham-based attorneys of Greenway Bankruptcy Law, LLC may work for you today by calling (205) 324-4000.

Proposal to ease students’ debt burden

In legislation recently proposed by a senator, students who took out private loans may have them discharged in bankruptcy cases, an article by the Huffington Post stated on June 25.

In the Higher Education Affordability Act introduced by Senator Tom Harkin (D-Iowa), the option was proposed for struggling borrowers of private student loans to have their debts discharged through bankruptcy, as federal student loans can be. Individuals who borrow funds from private lenders struggle to settle their debts due to higher interest rates than loans from the government. A report by the Wall Street Journal said an estimated 15 percent of the total education debt was from individuals who borrowed from the private sector.

The attorneys of Greenway Bankruptcy Law, LLC, know that many Birmingham individuals are struggling to repay their student loans. If you are in such a situation, we may possibly offer you legal solutions to solve your debt problems. Discuss your situation with us today by calling (205) 324-4000, and find out how we may help you.

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