Vance P. Truman, Attorney at Law
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Student debt gets more attention from companies and governments

Debt has a way of making people feel like failures when they're in it. But there are a lot of reasons that someone may face a debt they cannot pay in the allotted time. It is often because someone made the attempt to improve oneself or one's business and things did not go as planned.

Medical debt, which is incurred when people need extra money to recover their health, is also a leading cause of personal debt. In the last decade or two, student debt has spiraled as more people feel the need to get a degree to support their careers. Some student loans may outlast the jobs that people can get with the degrees for which they pay.

Some governments are responding to this crisis with some new ways to help relieve student debt. For example, a town in Ohio is offering to pay half of a person's student debt if they buy a house of a certain value within five years of graduation. The deal could be worth up to $50,000 for people who take advantage of it.

Many companies offer to pay for student bills when their employees go to school or help with student debts if their employees went to school before the job started. There may even be stipends to help with student loans when people volunteer for certain causes.

Alternative ways to deal with debt can often be worked out to avoid bankruptcy or other extreme measures. Talk to an attorney about the possibilities and retain legal representation for moves like filing for bankruptcy or challenging creditors' claims.

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