In the United States, students often have to take loans to have access to higher education. Unfortunately, while it helps students obtain a required degree, these loans often leave them tens of thousands, even hundreds of thousands of dollars in debt to be repaid years or even decades after graduation. As a matter of fact, students have accumulated student debt over $1.59 trillion, creating a significant call for concern. While the government has reduced some of the burden on Federal student loans, there has been no relief on private student loans. To this end, Fitzgerald & Campbell, APLC is committed to helping these students navigate the legal system to reduce and pay off their loans in a way that ensures a happy lifestyle.
Fitzgerald & Campbell, APLC was established by attorneys Gregory Fitzgerald and William Campbell, with decades of legal experience. Together, the two partners empower their clients by equipping them with the necessary tools to help them get out of the financial crisis for the lowest amount possible.
Always on the lookout for disinformation that might mislead consumers about their rights, Gregory Fitzgerald recently released a statement on the firm’s stance on an article published by lender SoFi that asks if there is a Statute of Limitations (SOL) on debt. In the article, SoFi contends there is no statute of limitation (SOL) and that this misinformation confuses rather than educates the readers. He then elucidates the difference between federal and private student loans and how and why private student loans are subject to SOLs when federal loans are not.
“The assertion is so false that it seems SoFi would have to acknowledge it is misleading consumers. SoFi spends millions of dollars “educating” its prospective and actual customers. Customers who rely on the representations made by SoFi on its website and elsewhere about the collectability of its loans. An unsuspecting consumer reading their article on their website would believe that private student loans have no SOL. It is not a stretch to say some SoFi customers may be making payments they are not legally obligated to make due to this article. I repeat: BE ADVISED: there are statutes of limitations on private student loans,” he said.
Fitzgerald explained that debtors already have little to no access to competent and affordable legal counsel and few rights as the financial industry’s legislative power crushes them. He urged customers not to fall for the clever trick used by lenders to infer students and graduates do not have access to one of the most fundamental, long-standing and indisputable legal rights available to debtors.
In addition to student loan debt, Fitzgerald & Campbell, APLC caters to other debt areas such as attorney fee debt, auto-related debt, bankruptcy, collection harassment, collective lawsuits, credit card debt, debt settlement, fraud or civil defense, judgments, medical debt, insurance company claims and lawsuits, and cash advance debt. The firm ensures that each client is made aware of their fundamental rights while putting great value on helping them overcome debts through legal negotiations and customized plans for an affordable fee.
Learn more about Fitzgerald & Campbell, APLC by visiting their official website.
