Mark T. Young & Associates
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Chapter 7 can mean less anxiety for Tennessee residents

It can happen to anyone. A serious illness occurs to you or someone in your family. You get laid off with little or no notice or severance pay. A major household repair crops up, or the car you rely on to get places needs to be fixed or replaced. Suddenly, you have major debt, and little income, and bills go unpaid. Creditors begin calling and sending letters, and you begin to get less sleep as you lie there wondering what you and your family will do.

This unfortunate scenario occurs all too often in Tennessee and throughout the country. Especially after the economic downturn of 2008, many people found themselves in just such a situation. When things get really bad, there may be levies on bank accounts or wage garnishment, or even a law suit. What can a person who has fallen this far behind, even through no fault of his or her own do?

One possibility is to consider filing for bankruptcy. Depending upon the individual circumstances, a Chapter 7 liquidation can make a lot of sense for people who have unpayable debts. Many of these debts can be discharged or wiped out, giving the debtor a new start from a financial perspective. There may be other alternatives as well, and those in debt may want to explore various legal options.

Filing a Chapter 7 bankruptcy can help stop collections calls, collection letters, and remove wage garnishment and the like. It can be one way to remove anxiety and get those good nights of sleep back again. However, there are some requirements to a Tennessee Chapter 7, including a means test and mandatory credit counseling. Those wishing to weigh the options and learn more about bankruptcy and the alternatives may wish to consider an experienced Tennessee attorney.

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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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