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How common is student loan debt today? Attorney Michael Ziegler explains that.
Student loan debt is progressively becoming the most prominent focal area of professionals in debt-relief services. Student debt now exceeds 1.4 trillion dollars. There are over 40 million Americans that are addressing student loans, and because of a number of the rights and powers that student lenders have, especially if the federal government insures them, it makes them very difficult to deal with.
People fall into collections on student loan debt for many of the same reasons that they would for any other debt. They might lose income. They might have a medical issue or an unexpected life experience, such as divorce, and that may cause strains on their financial circumstances, including their student loans.
What makes student loans unique is that because the student loan lenders have additional collection protections that many other loans do not have, there is less motivation for the lenders to work with borrowers that are in a difficult spot.
Contact Attorney Michael Ziegler in Florida for a free case evaluation today. He founded his law firm on the principles of professional quality and personal care.
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