The Student Loan Crisis is as Bad in Arizona as Everywhere Else

The Student Loan Crisis is as Bad in Arizona as Everywhere Else
Almost any Arizona bankruptcy lawyer has seen the serious debt crisis brought on by student loans. One notable result of the recent economic recession has been bankruptcy filings that include student loan debt accrued by young people entering college, parents assisting their children through college, or adults forced to retrain and acquire new job skills in order to find employment. The situation has become a true student loan crisis.

Unfortunately, most student loan debt is not dischargeable in bankruptcy, and you should consult with an experienced bankruptcy attorney if student loans are part of your overwhelming debt burden.

Attorney Jonathan Frutkin, an AZ bankruptcy lawyer, is fighting to help Arizona residents avoid student loan problems by planning ahead. Mr. Frutkin was named Advocacy Leader by the National Association of Consumer Bankruptcy Attorneys (NACBA), and helps to bring consumer concerns to the attention of state and federal policy makers and legislators. Mr. Frutkin advises:

  • Plan as early as possible
  • Set up a 529 tax-advantage savings plan for future college costs
  • Use federal student loan programs; avoid private lenders

By using these steps to plan ahead, some families and individuals may avoid becoming a statistic in the growing student loan crisis. These steps can help make college attainable without the worry of a possible need to file for bankruptcy down the road. And when you do secure a student loan, be certain to make required payments on time; just one missed payment could result in a delinquent status.

If you are already in a difficult financial situation and considering bankruptcy, consult with a knowledgeable bankruptcy attorney who can advise you on the best way to handle student loan debt in bankruptcy. Radix Law, with offices in Phoenix and Scottsdale, AZ has experienced bankruptcy lawyers who can advise you through the bankruptcy process in Arizona, especially when a student loan debt is part of your debt burden.

Tags: , , , , , , , , , , , , , , , , ,