Student Loans in Default? Know Your Rights!
If you have student loan debt that you are having difficulty paying, it’s essential that you listen to my interview with Joshua Cohen, a.k.a. The Student Loan Lawyer. He is one of the country’s top experts on student loan law, and he has important insights to share, including:
Your right to a reasonable and affordable payment to get out of default;
When your wages or retirement income can be garnished to pay student loan debt;
Student loan debt consolidation if you are in default;
What lenders can (and cannot do) if you cannot pay;
And much more. This is one of the most important interviews I have done on Talk Credit Radio. Don’t miss it.
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About My Guest
Joshua R.I. Cohen opened his legal practice four years ago with the goal to help consumers. Student loans quickly became his main focus when he realized that no one else was doing it and he was getting referrals from all over the country. Not only does he help consumers, he teaches consumer attorneys how to do what he does, in the hopes that legal mechanisms will change the student loan industry.
I asked Cohen about his work and here are some insights he shared:What’s the biggest goal you are working on right now?
1) Get the word out about IBR – Income Based Repayment – an affordable repayment option for federal student loans. 2) Get the word out to the industry that consumer lawyers are watching, policing, and suing if necessary. 3) Educate people about their options so they do not become my clients.When people find out what you do, what’s one of the questions that they always seem to ask?
If they have student loans, “Can you get rid of mine?” If they are a lawyer, “How do you make money doing that?” If they are a lawyer with student loans, “How do you make money doing that and can I make enough to pay off my student loans?”What do you love most about your work/topic/field?
I love that I make a difference in people’s lives. Giving them control over their student loan gives them control of their finances and their lives. Even if we can’t find a way out, we find a way to survive, and in this economy it’s all about survival.What frustrates you the most?
The most frustrating thing is when a senior calls me because their social security is being offset. No senior should have an offset because it’s an easy fix and there are affordable payments for seniors on a fixed income. If only the industry would get it right!
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