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July 2014 Archives

What bankruptcy exemptions can Tennesseans utilize?

To some Tennesseans, bankruptcy is a scary word. To them, the term conjures up images of destroyed finances and being left with absolutely nothing after creditors take it all. In fact, bankruptcy does not take the shirts off the backs of filers. Tennessee law allows the debtor to keep certain property under bankruptcy exemptions. The exemptions allow debtors to keep some property, remain in their community, and participate in the economy.

How can Tennesseans reduce their medical bills?

Even with the Affordable Care Act expanding health insurance to many who did not have it before, many Tennesseans still struggle with medical debt. The increasing costs of healthcare together with stagnated wages and a struggling job market leave several people one medical condition away from financial ruin. Unfortunately, this happens to many individuals. Yet, there are things that can be done in an attempt to reduce hospital bills and obtain debt elimination.

Tennesseans can rebuild credit after filing for bankruptcy

Those in Tennessee who have filed for bankruptcy or are considering it often have many concerns. Amongst them is how bankruptcy will affect one's credit. While it is true that bankruptcy will negatively impact an individual's credit score, it is not a mark that will doom an individual to a lifetime of financial ruin. In fact, there are many steps that can be taken after declaring bankruptcy that might help rebuild one's credit.

Chapters 7 and 13 bankruptcy can help with credit card debt

Credit card debt can be scary. Those who relied on them in a time of need can quickly be subjected to creditor harassment and even wage garnishment. In many cases, these debtors had no choice but to turn to credit cards. Unemployment, a sudden decrease in wages, a new medical condition, or another unexpected life event can leave them strapped for cash with nowhere to turn but their plastic. Though they may not have had an option in doing so, they do have options when it comes to finding debt relief.

Inheriting parents' debt can cause financial challenges

Many Tennesseans try to handle their debt responsibly. They attempt to make payments on time, pay debt off in a timely fashion, and communicate with their creditors when necessary. However, life is always unexpected, and sometimes unexpected events throw a wrench in our financial planning. An unexpected illness, job loss, or wage cut can all leave an individual facing tough financial challenges. However, there are other debts that may be thrust upon an individual in surprising fashion, leaving him or her desperate for help.

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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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