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February 2013 Archives

Is an apology a good idea when filing for bankruptcy?

It is not uncommon for bankruptcy attorneys and their clients to discuss courtroom strategy prior to going before the judge, who will ultimately decide whether to approve their bankruptcy plans. To aide in that discussion, two law professors recently released a study to determine whether or not a simple "sorry" can help. Tennessee residents considering filing for Chapter 13 bankruptcy might find these professors' study on apologies and bankruptcy filing interesting.

Former coach in hot water with court for Chapter 7 claim

In the never-ending saga that seems to have enveloped the life of former Arkansas Razorbacks football coach John L. Smith, the former coach is now facing accusations that he attempted to defraud several of his creditors. In fact, various creditors filed multiple complaints against the coach in just the last few weeks. Tennessee readers may recall that Coach Smith filed for Chapter 7 bankruptcy last year, claiming approximately $40 million in liabilities.

Bankruptcy among older Americans is growing

Thinking too much about retirement will make anyone nauseous. With so much to plan for and so little certainty, the mere thought of retiring is unsettling. Further, with more older Americans than ever struggling with credit card debt, mortgage debt and student loans, the rate of bankruptcy among adults over 55 is climbing. Because of this, Tennessee residents may be interested to learn about qualified retirement accounts and bankruptcy exemptions.

Bankruptcies decrease, yet economic recovery slow in Tennessee

The news is full of optimistic stories about how much better the economy is getting. From job growth to rising housing prices the word on the street is that things are improving for consumers. Unfortunately, while the numbers may be getting better, the average American may not be able to tell the difference. In fact, a recent report showed that Tennessee had the highest rate of bankruptcy filings in the nation last year, this included Chapter 7 bankruptcy filings.

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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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