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March 2014 Archives

Tennessee developer files for business and personal bankruptcy

Many readers are likely familiar with the recent personal bankruptcy filing of Tennessee businessman Allen Casey. The Chattanooga Times Free Press reported that Casey filed for Chapter 7 bankruptcy protection in federal bankruptcy court in Chattanooga shortly after his company, River City Resort, filed for bankruptcy. The bankruptcy came as a surprise to many observers who know the businessman as the man responsible for taking a neglected railroad terminal and turning it into the famous Chattanooga Choo Choo.

Unsecured debt is not really so unsecured

For many consumers, credit card debt is part of being an American. Despite our sometimes casual attitude about the credit card debt, it can actually be very serious. This is especially true when our credit card bills start to exceed our ability to pay. In fact, some Tennessee credit card holders might find it surprising, but many credit card agreements actually allow lenders to collect outstanding debts through repossession.

Medical debt leads amongst causes of personal bankruptcy

There is a hope that new health care reforms will reduce the amount of strain medical debt places on Americans - including here in Tennessee -- and similar state health care reform programs seem to be showing some promise. According to a Nerdwallet Health study from 2013, medical debt is the leading cause of personal bankruptcies in the U.S., exceeding credit card debt and mortgage debt as causes of personal bankruptcy.

Understanding bankruptcy is important for Tennessee residents

The economy has hit a lot of Tennessee residents hard lately. People are earning less money, paying more for groceries and gas, carrying higher student loan debts and paying more for medical care than ever before. All these factors combined can make it difficult for people to make ends meet.

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

Toll Free: 888-376-0282
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