Providing New Jersey Residents With A Fresh Start

Did you take out student loans based on false promises?

Like many college graduates, you might be wondering if you bought into a false dream. People told you that going to college would help you secure a good career. They told you you would soon be able to pay off the student loans you took out to get you through college. Years later, you have been unable to get the well-paying jobs they promised, and the chance of paying the loans back seems ever more distant.

Fortunately, some politicians are fighting your corner. They are pushing the government to cancel $50,000 of student loan debt. The government recently announced tax relief on any student loan help they give over the next few years. Campaigners are encouraging the government to continue that good momentum through loan forgiveness.

It does not matter why you got in debt, only how you will get out

Some politicians remain set against student loan forgiveness. They accuse those who cannot repay their debts of mismanaging their finances. Even if that were true, looking backward is not going to help you build your future.

If your present reality is that you have debts you cannot pay, you need to find a solution. Student loan forgiveness could be part of that solution. Yet, even that might not be enough.

Chapter 7 bankruptcy could help you erase other debts

A Chapter 7 bankruptcy could help you clear things such as personal loans or credit card debt, which can make managing your student loans much easier for the foreseeable future. In rare cases, bankruptcy may also address student loans. Clearing your debts would leave you free to build a new future. One that is based on truths, not false promises.