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Ah, les bons vieux temps ou nous etions si malheureux! Ten years ago about 4% of residential mortgages in the USA were more than 30 days delinquent.  Now, that rate has more than doubled.  Obviously, the Great Recession and the mortgage crisis have affected delinquency figures.  But, in addition, our mindset has changed.

Generations of Americans always paid the mortgage first. Since 2008, Americans have been more prone to pay the credit card bills and the car loan first.  Why?  Because we depend on our credit cards and our cars on more of a day-to-day basis.

For bankruptcy lawyers, this sea change means that we need to listen more.  Some law firms sell bankruptcies like McDonald’s sells Big Macs: everyone gets the same product, and the staff is somewhat put off if you ask for extra onions.  At Henley and Henley we understand that different types of debt merit a different type of bankruptcy, and we are well-versed in all your options under the Bankruptcy Code.

If you and your family are struggling with unsecured debt, Chapter 7 may be the best answer.  Chapter 7 offers a much faster discharge, and so you can have your fresh start sooner than a Chapter 13.  If you have issues with secured debt, and you want to keep your house and your car and your other secured assets, Chapter 13 may be a better option.

Call today for your free consultation.  We are ready to listen.