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March 2012 Archives

Senator pushes bankruptcy reforms for student loan debt

With a highly-competitive job market in Chattanooga, Tennessee, and across the country, people are looking for ways to distinguish themselves as the most qualified person for a job. As such, this tight economic situation has pushed many people to go to college or pursue further education. While advancing one's knowledge is a worthy goal, there have been side-effects for these actions: Many people have taken on high levels of student loan debt to finance their education.

Chapter 13 bankruptcy doesn't necessarily harm your credit score

No one wants to be in a financially difficult circumstance, but the economic recession put many Tennessee families into such situations. Trying to figure out how to manage a significant debt load raises a lot of questions. Many people fear that filing Chapter 13 bankruptcy will ruin their credit score and prevent them from being able to take out a loan in the future. While bankruptcy filings may have some impact on a personal credit rating, it does not necessarily mean that your credit score will plummet dramatically.

Study shows 20 percent of Americans have medical debt issues

The economic recession has impacted nearly every person in Tennessee in some way. Many people have lost their jobs or have acquired a significant amount of debt that they are unable to pay. At the same time, the cost of health care has been rising steadily. Medical issues can strike anyone, no matter their financial standing, which is why a recently released study shows that one in five Americans struggle to pay back their medical debt. The fear of acquiring too much medical-related debt has even led some to consider refusing medical care.

Knowing your options is vital to protect assets in Chapter 7

Many people who become overwhelmed by their personal debt load seek a fresh start by filing Chapter 7 bankruptcy. Through this process, Chattanooga families may be able to discharge a significant portion of their unsecured debts and keep the assets that are most important to them, such as their home. This process can be confusing at times, so it's a good idea to know exactly what your options are within the bankruptcy process.

Tennessee credit card debt loads edge downward

The impact of the economic recession, and subsequent personal debt issues, has spread throughout the country. Finally, the economy is showing some signs of improvement. Along with positive economic signals, Tennessee residents are successfully managing their credit card debt loads.

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Mark T. Young & Associates
2895 Northpoint Blvd.
Hixson, TN 37343

Toll Free: 888-376-0282
Phone: 423-933-1606
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