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October 2015 Archives

If Tennesseans file for bankruptcy, do they give up everything?

When many Tennesseans hear the word, "bankruptcy," their imaginations conjure up images of selling-off everything they own. Tennesseans commonly envision having to give up their car, clothes and even their home. But, is that truth? Does filing for bankruptcy require a person to trade-in all of their earthly possessions in exchange for a fresh start?

Medical debt can be a vicious cycle

Many Tennesseans enjoy good health. But for an unlucky few, poor health can wreak havoc on their body and their finances. They can ring up huge bills that grow and grow. Keeping pace with those escalating costs can be a challenge; after all, Tennesseans who are sick often have a hard time putting in hours and, in many instances, holding down a job.

Chapter 7 can wipe out most debt, not all

Getting into a financial hole is easy, climbing out of it can be much tougher. But sometimes struggling to climb out is not the best approach. Sometimes debt is like quicksand, the harder you try the faster you sink. In these situations, a better approach may be to file for Chapter 7 bankruptcy.

Credit card debt can be solved

When Tennesseans think of financial problems, they often think about the wave of foreclosures and bankruptcies that followed in the aftermath of the bursting real-estate bubble. But the real-estate eruption is hardly the only situation that has burned people. Indeed, life can lay people low in an assortment of ways.

Buried under credit-card debt? Beware of debt settlement scams

Most Tennesseans want to use their credit cards responsibly. They know that credit cards are helpful when handled responsibly, but damaging when utilized poorly. But often the decision is not between responsibility and frivolity; often the decision is between paying for essentials like food and health care versus having nothing to eat or no treatment for a serious sickness. Such a decision is no decision at all; Tennesseans charge the bill to their credit card and figure out how to pay for it later.

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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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