Many Tennessee residents have worked their entire lives to pay down their homes, build up their retirement funds, and prepare themselves to ride out their lives without the hassle and worry of everyday employment. For most, a well-executed plan can get them comfortably into retirement. For others, unexpected life events can put their careful preparations into financial jeopardy.
When medical bills and other emergencies threaten the financial health of Chattanooga residents, they may turn to the law to investigate what options they have for finding financial freedom. Bankruptcy is a useful option for many who want to rid themselves of oppressive debts and start their lives over on stronger footing, but the idea of liquidating assets or finding income to pay toward a repayment plan may overwhelm those who have reached retirement.
Mark T. Young and his bankruptcy law firm are prepared to help individuals at every stage of their careers to make sound decisions about how bankruptcy may serve their needs. Individual bankruptcy options do allow people to protect or exempt certain assets from the bankruptcy process, but depending upon where a debtor is in the course of their life, those exemptions may or may not be sufficient to help them achieve their financial needs.
Losing one’s financial footing at any stage of life is scary, but for those who have taken the plunge into retirement, acquiring overwhelming debt can be devastating. Mark T. Young and his dedicated team of bankruptcy professionals are ready to provide client-specific guidance to Tennessee residents who have important questions regarding how to protect their assets, eliminate their debts and prepare for retirement in the future.