- Page 4 of 23 - Texas Consumer Credit Attorney

Q: I'm struggling to afford my federal student loan payments. What are my options?

Federal student loan borrowers have the right to apply for income-driven repayment plans , which can lower your monthly payments based on your income and family size. You may also be eligible for deferment or forbearance under certain circumstances, such as unemployment or financial hardship. Contact your loan servicer immediately to explore these options.

Q: There are errors on my student loan account and credit report. How can I fix them?

You have the right to dispute errors on your student loan account by sending a written dispute letter to your loan servicer. Similarly, you can dispute inaccuracies on your credit report directly with the credit bureaus (Equifax, Experian, TransUnion). The servicer and credit bureau are then obligated to investigate and correct any verified errors. If the errors are not corrected, you can file a complaint with the CFPB.

Q: A student loan debt collector is harassing me. What can I do?

If you are being harassed by a student loan debt collector, you have the right to send a cease communication letter demanding they stop contacting you. Keep a record of all communications, and be aware that debt collectors are prohibited from using abusive tactics, making false threats, or contacting you at certain times or places. You can also file complaints with the CFPB and the Texas Attorney General and consider legal action for violations of the FDCPA and TDCA.

Q: What are my rights as a student loan borrower in Texas?

As a student loan borrower, you have numerous rights under federal and Texas law. These include the right to accurate information about your loan, the ability to apply for alternative repayment plans for federal loans, options for forbearance and deferment if eligible, and protection against wage garnishment for private student loans in Texas without a court order. You also have the right to dispute errors on your loan and credit reports and to be free from harassment by debt collectors.

Q: I'm not sure if I qualify for help under the SCRA or MLA. How can I find out?

Contact our office for a free consultation. We can review your situation and advise you on your eligibility for these protections based on your military status and the specifics of your case.

Q: I took out a loan before I joined the military, and the interest rate is very high. Can I do anything about it?

Yes. Under the SCRA, you have the right to request that the interest rate on debts you incurred before active duty be capped at 6% for the duration of your service. You need to notify the lender in writing with a copy of your orders.