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Student Loan

Bankruptcy Law

Student Loan Lawyer Chicago

Are you struggling to pay off your student loan in Chicago? At DebtPros, our student loan attorney has helped thousands of students like you in Chicago navigate the complex world of student loan payments. Call us today if you’re facing a similar situation and want to clear your debt.

DebtPros is a debt relief agency. Our Chicago student loan debt attorney can assist you in limiting and eliminating your student loan debt.

What Are Your Relief Options for Student Loan Debt?

Your relief options depend on the following type of student loan you have:

  • Private student loans
  • Federal student loans

Private loans do not include significant relief because you only have the option to negotiate repayment terms with your lender. However, there are many options to get federal student loans forgiven. The option that favors you most and applies to your situation depends on the following specifics:

  • The career you pursue
  • Disability status
  • Whether the college you attended defrauded you

Federal Student Loan Relief Programs

The Higher Education Act provides many relief solutions to federal student loan debt, and there are four types of student loan forgiveness programs available:

Income-Driven Repayment Forgiveness

It’s a good option if you cannot afford monthly installments under the 10-year standard repayment plan. This program will reduce your monthly installments and make them more manageable depending on your income and family size.

Your repayment period will extend to 20 or 25 years. But, the great news is that any remaining balance will be completely forgiven after this period.

There are different types of income-driven repayment plans to choose from:

  • Income-based repayment plan
  • Income contingent repayment plan
  • Pay as you earn (PAYE)
  • Revised pay as you earn (REPAYE)
  • New savings plan

As student loan debt has surpassed $1.75 trillion in the US and continues to rise, the Biden administration introduced a new saving plan last year. It reduces your monthly payments significantly compared to other income-driven repayment plans. In some cases, borrowers qualify for $0 monthly payments.

For example, even if your yearly income is $40,000 and you have two children, you may still qualify for a $0 monthly payment to the student loan servicer.

Perkins Loan Cancellation

The Perkins Loans were last issued in 2018. You may be eligible for cancellation of your loan partially or fully if you have a Perkins loan and have worked in the public sector for a specific period. The period varies depending on your employment position, but it’s five years in most professions.

Below are some examples of professions that qualify for the entire Perkins loan cancellation:

  • Teachers working in the public sector are eligible for complete Perkins loan cancellation after five years of service.
  • Nurses and medical technicians working in the public sector are eligible for 100% Perkins loan cancellation after five years of service.
  • Law enforcement and correction officers working in the public sector full-time are eligible for complete Perkins loan cancellation after five years of service.

Public Service Loan Forgiveness

Some borrowers may be eligible for loan forgiveness if they:

  • Work full-time for a qualifying non-governmental organization
  • Work for any government agency
  • Completed 120 monthly installment payments

If you are enrolled in any income-driven repayment forgiveness plans mentioned above and making monthly installments, it would also count in 120 monthly installments.

Teacher Loan Forgiveness

Under this scheme, you may be eligible for $17,500 in loan forgiveness if you’re a teacher. However, you have to meet the below criteria:

  • You must have taught full-time in a low-income elementary or secondary school for at least five years.
  • You teach certain subjects, such as mathematics or science. Otherwise, you would be eligible for only $5,000 in loan forgiveness for other subjects.
  • Your loan must be federal direct unsubsidized or subsidized. These are also known as Stafford loans.

Student Loan Discharge Programs

There are many circumstances in which student loans can be discharged, such as:

  • Closed school discharge: If your school closed while you were enrolled or shortly after you withdrew, you may be eligible for 100% loan discharge in the case of Direct, Perkins, or Federal Family Education Loans.
  • Discharge due to death: Unfortunately, if a borrower or the student for whom the loan was obtained dies, the loan can be discharged.
  • Discharge in bankruptcy: There is a common misconception that student loans cannot be discharged in bankruptcy, but this is not true. In certain circumstances, you can also eliminate student loan debts under Chapter 7 of bankruptcy.

Why Choose DebtPros in Chicago for Student Loan Debt Assistance

The average student in Illinois owes $37,233 in student loan debt but often doesn’t have a repayment strategy.

It takes extensive experience and a thorough understanding of the ever-changing Chicago student loan laws to formulate a plan to tackle student loan debt and safeguard your financial future in the long run.

DebtPros has this experience and has been helping Chicago students live debt-free lives for many years, whether it’s student loans, credit card debt, or long medical bills. Furthermore, unlike other giant law firms, our founder, John Wonais, understands students’ struggles and tries to provide as much support as possible throughout the procedure:

John took me on as a client with no problem. He was very understanding, passionate, helpful, and available every step of the way. Trust me I am a very happy client, I definitely recommend John. – Jessica.
Schedule a free consultation and discuss your situation with us today. Our Chicago student loan lawyer can help you take control of your finances for a debt-free future.

Client Testimonials

What Our Clients Say

I want to start by saying THANK YOU! John was patient, prompt, informative and easy to work with. In our time of need, he helped my parents file for bankruptcy successfully and at a great price. If you are ever in the need of any services concerning your debt and potential bankruptcy litigation, I give my word and experience that John is the BEST in the Chicagoland area.

- Eric McDowell

John was outstanding in the process of my chapter 7. Not only did he keep me abreast of every step and matter that involved my BK but he was reasonable with the price and the time I had to pay him. He sent me places that accepted my Bk when it came to getting a new car as well and his communication was an A+. There was never a time I couldn’t reach him and if he missed my call he would proceed to call back before the day over or early the next day. I recommend him to any and everyone!

- Lamar Johnson

John is a great lawyer to work with. It’s easy to be honest and share things with him. It felt good to communicate with him. When I reach out to him, he is very good at answering the phone or responding when he can. I recommend his work as well. He’s very organized and gets things done. Thank you John.

- JP W

This guy made my experience so smooth I would recommend him to anyone who is thinking about filing for bankruptcy. He is very patient with his clients and Is very informative. Every question I had he answered even if I asked it twice. Highly recommend!!!!!!

- Nikita Nichols

John is very patient, he’s worked with me from start to finish. Always answer my questions and never made me feel like I’m a bother. Never made me feel like I’m a number in his book. He’s very helpful and caring which is why I’d recommend him over any bankruptcy lawyer. Thanks John for all you do.

- Corey Ross

Thank you team DebtPros! The choice to file was not easy, but it was the best decision for my family. John, I appreciate your kindness, thoroughness, and professionalism. I feel like you’ve guided me through this process in a very personable way. Thank you for always being available to chat, and making the experience so efficient and understanding. I can see the silver lining toward a fresh start! Thank you again & Have a wonderful summer. Sincerely, SB.

- Shelly Boyki

I am honored to provide such a financial relief feedback for this amazing blessing whose name is Atty. Wonais. There is so much I could share endlessly about his superb knowledge and service that he offered me as his client. However, I will share what I found to be essential in my financial issues that Atty. Wonais selflessly provided to me as his client; his expertise, his ability of trustworthiness was "everything" oh my goodness he is truly trusting thru the entire process.

- Val B.

I was referred to them, and this has been the best decision I have ever made. I never been this confident in a person like I am with John. He heard my needs and wants, he made it possible to give me that. Excellent customer service. He put all my options on table to fit my needs. He never sugarcoat he gives it to you like it is meaning he’s not rude or unprofessional. He’s that person that tells you what you need and bot what you want. I have referred all my friends and family to his service.

- Nicole Murray

So one night I went online looking for advice on google and John came up and I called him on the weekend late evening and he happened to answered which was awesome. John helped me out with my situation he gave me amazing advice and options on how to take on my problems the right way. John is super easy to talk to Very informative and he answered all my questions.

- Freddy

This office and staff was amazing. I was referred to John from my best friend and as soon as I reached out he was very prompt on getting back to me and helping. From start to finish the process was amazing stress free and straight forward. He stayed in communication no matter what time of the day. If I had a question he had the answer. His tips and tricks and knowledge helped me a lot and made me more comfortable and excited about starting over.

- Kierra Smith

John took me on as a client with no problem. He was very understanding, passionate, helpful and available every step of the way. Trust me I am a very happy client, I definitely recommend John.

- Jessica Burton

John did a wonderful and seamless job with my case-he handled everything properly and was very timely in all of his communication. He is professional and reliable. I would highly recommend him to anyone who may have to deal with a bankruptcy. Five stars!

- Ashley I.

I had a great experience with Wonais Law, LLC. John is very patient and replies right away to any questions or concerns that you have. I would recommend his services to anyone.

- Erika Sing

If I can leave more stars I will. Wonaia Law is highly recommended. John is great with making sure I understand everything that was going on, I really appreciate how he’s always there to answer any questions I have ... My chapter 7 is just about over and I have 2nd chance with living life debt free.

- Tiffany Austin

John Wonais is responsive, professional, and cares for his clients. He is extremely experienced in civil litigation and has answered all of my questions in a way that I can understand as someone with zero experience in law. He has gone above and beyond and has always made sure to follow up with me when I’ve needed it. I truly feel that he has my best interest at heart.

- Ariana Khosravani

I really wanna give a big thanks to John he helped me out a lot. He walked me through everything to make sure I understand, good quality. I don’t think I could of did it without him ?

- Twona Gibson

He gave an expert and advise and a great service. He went all out to be sure I got a solution to the issue I had.

- Betty Salami

I want to thank John for helping me win my case he was very helpful throughout the process and very professional, thanks again.

- Diana M.

I was very impressed on how quickly I was responded to, and how my lawyer John made everything so easy for me to understand. I have never had to hire a lawyer before, and I'm really glad that I met such a professional, and honest person. I would highly recommended.

- Angela Mata

DebtPros is a law firm that specializes in consumer bankruptcy. John has years of valuable experience and is dedicated to helping clients file for bankruptcy. John is responsive and provides a free consultation to prospective clients. I recommend this firm to anyone who is considering filing for bankruptcy.

- Taylor Kosla

John Wonais provided me with timely and beneficial legal counsel. I would trust his firm to represent me in any creditor-related case. John's professionalism and expertise are second-to-none; highly recommend his services.

- Richard Young

Very helpful, professional and they’re reasonably priced.

- Anthony Brown

Great Professional Service- I have been working with Wonais Law the past couple weeks and I have been blown away from their attention to detail and professionalism. They get work done quickly and are extremely responsive. I would recommend this firm to everyone needing legal services.

- Andres Jara

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