Mark T. Young & Associates
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Bankruptcy is an option for those who can't make payments

Sometimes, life's unexpected expenses can creep up on a family and drain all of their available funds. Major events such as medical incidents or layoffs can put a family in a bad financial spot. This can make it difficult for a person to make their mortgage payments on time.

If payments become delinquent for an extended amount of time, homeowners can face foreclosure. This is a catastrophic blow for Chattanooga families. However, there are ways to avoid foreclosure, and one of those methods is by seeking bankruptcy solutions. Chapter 13 or other bankruptcy methods can help a person keep assets that are of great importance, such as a family home.

Usually, a home is at the top of the list of items a person would prefer not to relinquish in tough financial times. Not only is a home a place where families can relax, it is an asset that can appreciate over time. Choosing the best option is about examining a personal financial situation and determining which options could be best for you and your family.

Debt reorganization can help a person or family struggling financially to move forward in a positive direction. The cycle of late bills, collectors and having no spare money can't go on forever. Checking into different options can help to eliminate the less favorable and highlight the better options a person might have when struggling with debt. Chattanooga families can seek a way out of their backlogged mortgage payments and start anew. Seeking the assistance of an experienced attorney can help those in such situations.

Source: bankruptcy.findlaw.com, "Behind on your Mortgage Payments," Accessed July 31, 2017

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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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