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July 2012 Archives

Will student loans become eligible for bankruptcy soon?

Tennessee residents may be aware how many young American college graduates are struggling financially, just as they are trying to begin a career. According to recent reports, college debt is now passing the $1 trillion dollar mark, and it is only expected to grow. While college loan debt is within a category of bankruptcy exemptions that cannot be discharged through bankruptcy, the new federal Consumer Financial Protection Bureau is trying to change that particular rule.

When is an inheritance included in bankruptcy?

For a financially distressed person, dealing with the death of a loved one simply adds a layer of complexity to what is often a convoluted situation. In the wake of a loved one's unexpected passing, people may come into a share of income as a result of inheritance. If this happens, a person is likely to ask, does inheritance income qualify as a bankruptcy exemption?

Chapter 7 sheds stigma, viewed as part of new economic landscape

More and more people are beginning to understand the vital role bankruptcy can play in the lives of the average Tennessee family. In some cases, people mistakenly look at bankruptcy with scorn or derision, judging those who filed as failing to meet their responsibilities. The truth, however, is far different. As more Americans become bogged down with debt, the truth about filing for Chapter 7 or 13 bankruptcy is finally starting to break through.

Which is better: personal bankruptcy or debt repayment?

One of the most difficult decisions for many people struggling with debt problems is whether to file for bankruptcy or establish a debt repayment plan. The decision is not an easy one to make and the answer often depends on the unique circumstances of the individual debtor. Tennessee families currently struggling to repay debt might be interested to learn more about their options.

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

Toll Free: 888-376-0282
Phone: 423-933-1606
Fax: 423-877-0363
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