Krasker Law Student Loans

Paul A. Krasker, Esq. founded the Law Office of Paul A. Krasker, P.A. on July 1, 2009 and previously was a name sharehold within the commercial department of the law firm of Moyle, Flanigan, Katz, Breton, White & Krasker, P.A. in West Palm Beach. Mr. Krasker practices in the areas of real property, business and general corporate law. His corporate practice centers on counseling businesses on entity...

Student Loan Forgiveness An Important Piece of the Financial Puzzle

The Law Office of Paul A. Krasker, P.A. has been helping distressed homeowners for years, providing foreclosure defense in the form of loan modifications, short sales, and even bankruptcy filings. The professionals with the Homeowner Assistance Division of The Law Office of Paul A. Krasker, P.A.(HAD) have gained an enormous amount of satisfaction from providing help to homeowners who would have ordinarily had to endure the trauma of a foreclosure.
student loan forgiveness provided by west palm beach lawyer Paul Krasker
However, Paul A. Krasker, P.A. began noticing a trend in some of the clients who were also bogged down with student loan debt. Even though HAD was able to help those clients in terms of their distressed mortgage, they were still finding themselves in financial difficulty due to their student loan debt.

In response, Krasker decided to set up an assistance program within his firm in order to help student loan borrowers utilize new federal student loan programs. The new program allows for borrowers to qualify for lower monthly student loan payments, and in some circumstances receive student loan forgiveness.

This is a groundbreaking situation for many reasons. First of all, student loan debt is different, in that it cannot be included in bankruptcy filing, which means that those who default on their student loans could have more serious consequences to credit than the typical bankruptcy. Additionally, student loan has risen to more than $1 trillion according to the Consumer Finance Protection Bureau. The average student loan debt is $28, 720 and it is estimated that it is about 60% of a new college graduate’s first year salary.

It stands to reason that student loan debt could cause as much financial stress as mortgage loan debt, and up until now there were very few programs available to assist those drowning in student loan debt.

Krasker began to see a need to provide service in this assistance because, similar to mortgage loan assistance, navigating the programs available can be complicated and daunting for borrowers. Because the professionals at The Law Office of Paul A. Krasker, P.A. have developed extensive experience negotiating with banks, it is often prudent for borrowers to seek professionals to help with these negotiations.

Examples of assistance available include consolidating qualifying loans into one payment, sometimes as low as $0 a month. Additionally some of these same loans can qualify for forgiveness after a certain number of payments. There are also additional loan restructuring programs available to those who work in certain fields such as nursing, teaching, and other service-related or non-profit businesses.

Krasker sees student loan assistance as an important piece in solving an individual’s personal financial puzzle.

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Image courtesy: photosteve101 via flickr

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