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October 2016 Archives

What are the pros and cons of filing for bankruptcy?

When Tennesseans get trapped under the crushing weight of debt, the challenge of breaking free can seem impossible. But there are options available. One option is to file for bankruptcy. Doing so can be the first step towards putting that debt in the rear-view mirror. But, at the same time, filing for bankruptcy is not for everyone.

Can a person eliminate tax debts through Chapter 7 bankruptcy?

No one enjoys paying the taxman. But even less fun experience is not paying the taxman and dealing with the consequences. When Tennesseans fail to pay their taxes, they can expect audits, penalties and, in some cases, the possibility of jail time. Scary as these consequences may be, however, some Tennesseans may believe that they need to tempt fate by not paying their taxes. Why? Because they do not have money to pay their tax liability.

Chapter 7 and taxes

A mountain of debt may feel insurmountable. But many Tennesseans have been able to relieve themselves of large amounts of debt. How? By filing for bankruptcy. Doing so has enabled these Tennesseans to put difficult times behind them so that they can build a new, better financial future. To learn more about one form of bankruptcy - Chapter 7 - keep reading.

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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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