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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

Status Of Debt During The Pandemic

The pandemic has caused financial turbulence in most American households. However, not all debt has been affected equally.

Credit Cards

A recent survey of consumer borrowers found that 1 in four people say the pandemic has pushed them to take on more credit card debt. In addition, nearly 80% of credit card holders say they aren’t going to be able to afford even their minimum payments going forward.

Student Loans

Federal student loan debt totals more than $1.6 trillion dollars. Prior to the pandemic 1 in 7 borrowers were delinquent and two-thirds were only paying interest each month. Trump recently signed an executive order deferring all federal student loan payments until January of 2021. Although the executive office does not have the authority for such an order, it appears highly unlikely it will be objected to at this point.

Auto Loans

The auto loan industry has seen a recent decline in delinquent accounts due to a combination of forbearance programs and stimulus funds. Auto loan balances rose by $15 billion dollars from the previous quarter. Some attribute the stall in the rise of auto loan delinquencies to mortgage forbearances being so accessible. Consumers are falling delinquent on their auto loans at a slower rate than their mortgages.

Mortgages

One in three people can’t afford to pay their rent or mortgage this month. The vast majority of mortgage loans are currently 30 days late. In the coming months, many of these forbearance programs will be exhausted and expire.

If you are struggling to make minimum payments or facing foreclosure, contact your Stockton bankruptcy attorney at 209-952-0355.

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