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September 2015 Archives

How does Chapter 13 bankruptcy work?

Many Tennesseans have heard of Chapter 13 bankruptcy. And a number of them have wondered if it might be right for them. But few really know what it is or how it works -- at least beyond the basics. Today's post will address the steps for filing a Chapter 13 bankruptcy petition.

Medical debt can unravel a Tennessean's finances

Some Tennesseans think of bankruptcy as a bailout for those who made reckless financial choices. They picture buying fancy cars, going on lavish vacations and living in monster homes. But the reality is often far different. The reality is that most Tennesseans are prudent with their hard-earned funds. Sure, they may splurge here and there, but the bulk of their finances are used carefully. What usually leaves their finances in a difficult position are the vagaries of life like an injury or illness that ends in massive medical debt.

When is Chapter 7 bankruptcy the right choice?

Interest is a powerful thing. Indeed, if the interest rate is high enough and the principal is big enough, interest can be insurmountable. And yet too many Tennesseans attach a stigma to an essential way to escape the bone-crushing burden of debt -- bankruptcy. For most people frantically trying to move the boulder of debt from off their chest, there is nothing embarrassing about filing for bankruptcy. Bad things happen -- investments sour, health evaporates, jobs disappear.

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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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