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Filing for bankruptcy is not the end, it is just the beginning

Many people will avoid filing for bankruptcy at any cost. From Chapter 7 to Chapter 13, the idea of filing for personal bankruptcy can simply be too much for some. What these people do not realize, however, is that filing for bankruptcy can be the best decision that they will ever make. Tennessee readers facing financial challenges and considering filing for Chapter 7 bankruptcy may find the following blog on a man who lost everything only to rebuild after bankruptcy inspiring.

CNN Money recently ran a story about the founder and CEO of City Lights Media. City Lights was once one of the largest and most successful independent film and television company's in the world. In 2008, for example, the company had produced and sold more than 60 televisions shows alone, and employed around 400 employees. Sadly, the good times did not last, and, like many other companies, in 2009 the company went broke and took its founder and CEO with it.

In response to more than $15 million in personally guaranteed business debts and a checking account that was hovering at around $1,700, it was clear that personal bankruptcy was the only option, no matter how terrifying. Fortunately, the decision turned out to be the right move, providing the former CEO with the fresh financial start necessary to rebuild his career. Today, the man once drowning in debt is the CEO of FilmRise, a company distributing more than 5,000 new titles worldwide.

When people are facing tough financial challenges, sometimes all they need is a chance to breathe. Chapter 7 bankruptcy can provide just that. With a fresh financial start, people can once again begin to think about the future, rather than the past. Instead of standing still maybe it is time to speak with an experienced debt relief professional about filing for bankruptcy. It may be the key to unlocking the door to the second act in your financial story too.

Source: CNN, "How I emerged from bankruptcy to grow a thriving company," Danny Fisher, Jan. 20, 2014

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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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