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  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Prioritizing Debt Payments

Debt is a part of life for many people, and managing it can be overwhelming. There are different types of debt, and deciding which to prioritize can be a challenging task. However, paying off debt is critical to achieving financial freedom and stability. In this blog post, we will explore the types of debt you should prioritize paying off.

High-interest debt should be your top priority when it comes to paying off debt. High-interest debt typically includes credit card debt, personal loans, and payday loans. These types of debt can carry interest rates as high as 20% or more, making them very expensive in the long run. Paying off high-interest debt first saves you money on interest charges and reduces the overall cost of your debt. Additionally, high-interest debt is typically unsecured, meaning that there is no collateral attached to the debt. As a result, failing to pay this debt can damage your credit score and result in  debt collection efforts.

Secured debt is any debt that is backed by collateral, such as a home or car. This type of debt includes mortgage loans, auto loans, and home equity lines of credit (HELOCs). While secured debt  ypically has lower interest rates than unsecured debt, it is still important to prioritize paying it off. Failure to pay secured debt can result in the loss of the underlying asset, such as foreclosure or  epossession.Student loan debt is a common type of debt that many people carry. These loans can carry high interest rates, and the balance can quickly accumulate over time.

Paying off student loans is important for several reasons. First, student loan debt is typically not dischargeable in bankruptcy, meaning that it cannot be eliminated in most cases. Second, the longer you carry student loan debt, the more interest you will pay over the life of the loan. Finally, paying off student loans frees up money that can be used for other financial goals, such as saving for retirement or a down payment on a home.

Medical debt is a type of debt that can quickly accumulate, even if you have health insurance.This type of debt is often unexpected and can be a significant financial burden.While medical debt is typically not as high-interest as credit card debt, it is still important to prioritize paying it off. Failing to pay medical debt can result in collection efforts and damage to your credit score.

In conclusion, when it comes to paying off debt, it is important to prioritize high-interest debt, followed by secured debt, student loans, and medical debt. Paying off debt takes time and effort, but it is worth it in the long run. By prioritizing debt repayment and creating a plan to pay off debt, you can achieve financial freedom and stability.

Feel free to reach out to your Stockton bankruptcy attorney at 916-780-7005

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