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December 2015 Archives

Chapter 7 basics

Tennesseans in need of debt relief have several options available to them. One option is to file for a Chapter 7 bankruptcy. Chapter 7 bankruptcy, in a nutshell, involves the debtor selling of non-exempt property and then using the proceeds to pay off creditors. Whatever debt remains after proceeds have disappeared likewise disappears.

Credit card debt costs Tennesseans more than $2,600

Consumer debt in Tennessee and across the nation is approaching $12 trillion. That comes out to more than $15,000 in credit card debt per indebted household. Carrying such a big debt comes with some serious costs, including yearly interest charges of over $2,600.

What is not exempt during a Tennessee Chapter 7 bankruptcy

Tennesseans who have accrued large debts -- whether because of an investment gone wrong, an unexpected medical situation or something else -- have options. One option is filing for bankruptcy. Doing so can lead to a fresh financial start.

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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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