The number of pending student loan cases in Birmingham has significantly increased in recent years. Sixty-two lawsuits have been filed against graduated students for their unpaid loans, which is four times the amount that was filed in 2003.
Along with rising tuition prices, the amount students take out for loans has also greatly increased. Rising costs coupled with the lack of available jobs once a student graduates has contributed toward this trend of early debt.
Those who owe money for loans are not given very much leniency. In order to receive the money for loans, prosecutors are sometimes able to place liens on the houses of people who owe money or, even, take money out of a debtor’s saving account or salary.
College administrations have attempted to combat this trend by issuing more grants.
If you are facing personal debt, talk to someone who can help. Please contact the Birmingham debt negotiation lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000.