American society is deeply plagued by rising debts in every economic sector, primarily consumer debts and student loans. After all, the capitalist economy in which the country operates was built on credit extension and the ensuing debt it creates. However, with the economic recession, statistics have reached a staggering figure of over 42 million individuals in the US owing $1.59 trillion in student loan debt. Although the federal government is hard at work to reduce the debt burden on citizens, the prevailing problem remains. Fortunately, consumer protection law firm Fitzgerald & Campbell, APLC is setting the trend in helping its clients reduce and pay off their debts and student loans to live a more fulfilled life.
Established by attorneys Gregory Fitzgerald and William Campbell, Fitzgerald & Campbell, APLC is a California-based consumer protection law firm providing its clients with consumer debt protection laws, including student loans, collection harassment, credit card debt, business debt, and much more. The law firm empowers its clients by helping them navigate the challenging maze of debt and student loans through a customized “get out of debt” plan designed to help them get out of the financial crisis for the lowest possible amount. Providing its clients with the necessary tools, Fitzgerald & Campbell, APLC help clients become aware of their consumers’ rights while protecting them from harassment, settlement, lawsuits, contesting judgments, and even bankruptcy.
Always on the side of the consumer to protect their rights and guide them on the financial mines to avoid staying in the debt treadmill permanently, co-founder Gregory Fitzgerald recently released a statement on the firm’s stance about an article published by SoFi regarding the Statute of Limitations on debt. Explaining that the most logical most people would say yes, he went on to discuss that the information in the article was misleading in regards to private student loans.
To clarify his point and educate the readers, Fitzgerald said, “The expiration of the statute of limitation (SOL) does not mean you no longer ‘owe’ the debt. It merely means the debtor can’t win a lawsuit brought by a creditor if the lawsuit is filed after the expiration of the time identified in the applicable SOL. So stated, lawsuits on some debts become ‘time-barred’ based upon the applicable state law.”
Furthermore, he elucidated that SOL on federal and private student loans are markedly different and should not be lumped together. “SOLs do not apply to federal student loans because the federal government does not file lawsuits to forcibly collect amounts due (a few exceptions on federal student loans from decades ago).” However, private student loan creditors are subject to SOL and must file lawsuits and win a judgment before they garnish wages, attach assets, etc., of debtors. Thus, SOLs in the student loan context apply to private student loans, and it is only in defense of a lawsuit that the SOL has any application at all.
All these and more are what makes Fitzgerald & Campbell APLC a one-stop shop for clients looking to resolve student loans, attorney fee debt, auto-related debt, bankruptcy, collection harassment, collective lawsuits, credit card debt, debt settlement, and many more.
To know more about Fitzgerald & Campbell, APLC, and the company’s “get out of debt” plan, visit the official website.
