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November 2012 Archives

Unexpected illness devastates family, medical debt mounts

One night in the hospital can cost a family thousands of dollars, and few are likely to have the money on-hand to cover these expenses. That is one big reason why medical debt is one of the leading causes of bankruptcy in the U.S. For those Tennessee residents who have experienced the financial struggles associated with unexpected medical debt, the following might be familiar.

Deceptive practices only create more problems for filers

Making sure that a bankruptcy is done right is more important, and more complicated, than people think. In every bankruptcy, whether a person files for Chapter 13 or Chapter 7, there are certain allowable federal and state exemptions. Bankruptcy exemptions are items that are excluded from the bankruptcy estate. But if the filer improperly uses bankruptcy exemptions, it can look like the filer is trying to defraud the court. Tennessee residents might be familiar with the following case.

Managing debt that is not dischargeable in bankruptcy

There are many reasons why people end up filing for bankruptcy. Two of the most common reasons are medical debt and credit card debt. However, today, student loan debt is beginning to outpace all other forms of debt in terms of the overall burden the debt impossess on every day Americans. Tennessee students, or the parents of students that may be soon facing student loan repayments, might find the following information helpful.

The holiday season means more bankruptcy filings

No one is safe from financial insecurity. For many Americans one of the most difficult times financially is the holiday season. The current economic climate and slow job growth this year is likely to have an even harder effect on the family budget this holiday season than usual. With so much pressure and mounting debt it does not take much to push a person over the limit. In fact, a single unforeseen bill or cost might be enough to send a person into bankruptcy.

Medical debt forces man into bankruptcy - twice

Medical bills are well known as a major contributor, if not a direct cause, of many personal bankruptcies in the United States. There are so many tragic personal accounts of individuals who have struggled with medical debt after experiencing a serious and unexpected medical condition. That is why many Tennessee residents may find the following story very compelling.

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

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