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March 2016 Archives

Steps to combat medical debt

Good health is important; just ask someone who no longer has it. So, when a Tennessean has to go to the hospital, they go and then they figure out how to handle the aftermath. This pattern of a health problem followed by a financial one happens again and again. Indeed, according to the Consumer Financial Protection Bureau, as of 2014, nearly 45 million consumers have medical debt that is in collection.

Credit card debt on the rise, nearing $1 trillion nationally

For many Tennesseans, credit can be a godsend. It can allow people to leverage financial advances to buy now what they would normally have to wait to purchase. If wielded wisely, that leverage can reap enormous benefits. But credit carries risk when life throws a curve ball. Just ask those carrying credit-card debt when the Great Recession struck.

Home in foreclosure? Filing for bankruptcy may be the answer

For many Tennesseans, owning a home is a dream come true. For others, it is a nightmare of late payments and lender phone calls. How bad the story gets often depends on the lender. Some will work with the homeowner, allowing a loan modification or short sale. In many other cases, the lender will press forward with the foreclosure process. For people stuck with a recalcitrant lender, filing for bankruptcy may make sense.

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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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