Student Loans and Disability Benefits
Student loans can be one of the more worrisome obstacles you will have to deal with in your life. For those who suffer from disabilities, or find themselves suddenly stricken by one, this obstacle becomes even more daunting. Thankfully, there are options for those looking to have their student loans decreased/dismissed due to the effect their disabilities have on their ability to effectively pay their loans back.
For the best North Carolina disability lawyer firm around, go no further than the passionate and professional team at the Clauson Law Firm, PLLC. We have many years of experience helping people get their student loans dismissed or significantly decreased due to a disability.
Are My Loans Eligible for a Discharge?
While you may be likely to be eligible for a discharge if you have a federal student loan, private loans can be less forgiving. Every private loan will act differently when it comes to being adjusted/discharged due to a disability, so you still have to consult your lawyer/loan provider to learn more about your options.
Who is Forgiven?
To be eligible for a discharge, you must be unable to perform any substantial gainful activity in most cases. If you are unable to realistically gain income for a period of 60 months or more, many loan providers, especially the federal government, will be more forgiving about your repayment/discharge options. For disabilities expected to result in death, or from those sustained from 100% military service-connected activities, your ability to have a debt drastically reduced/discharged increases even more.
How Can I Apply?
Once again, the type of loan you have will determine what to do in this step. While privatized loans will all have their own individual process, student loans will require you to apply for a TPD discharge by completing a TPD discharge application. It is important that you consult your attorney about the requirements of the TPD discharge application before filing the documents. A talented and knowledgeable disability lawyer will be able to guarantee that you have a good chance of gaining discharge and that all the documents are in order.
Ready to start exploring your options? At the Clauson Law Firm, PLLC, we are dedicated to helping you find the path that will see your student loans drastically reduced/dismissed. We are passionate about the service we provide and look forward to helping you live a more comfortable and financially stable life. Call us at your convenience to set up a free consultation.
