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What Gets Paid First?

Transunion examined late-payment rates between 2009 and 2012, and found that consumers were more likely to make timely payments on auto loans than credit cards or home loans.

However, in the last year, the late-payment rate on mortgages nearly closed the gap with credit cards.

According to the Daily Herald this suggests a return to pre-housing bust behavior where distressed consumers typically prioritize paying their mortgage ahead of credit cards.

Read more article: http://www.dailyherald.com/article/20130929/business/709299985/

If you are a distressed consumer who has to make a choice between paying your mortgage, auto loan, or credit cards, then you are an ideal candidate for debt settlement. An attorney can help you shed credit card debt while maintaining your auto and home loan payments. It doesn’t have to be a choice.

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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.