Mark T. Young & Associates
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423-933-1606
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888-376-0282
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February 2019 Archives

Unexpected medical costs a major cause of personal bankruptcy

For most people, having a job is a necessity. Without gainful employment they cannot keep food on their tables, rooves over their heads, and clothing on their backs. However, when it comes to finding work, many Tennessee residents also look for job opportunities that provide them with benefits like health insurance.

A discussion of disposable income related to a Chapter 13 claim

When a Chattanooga resident files for Chapter 13 bankruptcy they will be expected to use some of their income to pay off their debts over time through the execution of a repayment plan. As such, a person must have some disposable income that they can dedicate to this purpose. Without disposable income, a person may not be able to fulfill their responsibilities under their unique repayment plan.

Take control of burdensome credit card debt

It is hard to imagine how a Tennessee resident may live in the modern world without a credit card. While it may be possible to write checks and pay cash for many of the expenses a person lives with on a daily basis, the ubiquity of online shopping, bill paying, and banking has made it convenient for individuals to manage transactions from home and without physical money. Credit cards can be an important part of a person's spending power and, when used responsibly, it may offer them opportunities to make purchases when it is convenient for them to do so.

A minor medical reaction leads to a major medical bill

The human body is an amazing thing, but not everyone knows exactly what ailments and conditions may be lurking just below their own skin. Even when Tennessee residents stay on top of their health and meet regularly with their doctors, they may suffer surprising reactions and conditions that are unlike anything they have every experienced.

How much debt can one person handle?

Many Tennessee consumers have credit card debt. Even though most people have this type of debt, not everyone can manage it. In fact, some people find they are not able to really manage their balances, eventually leading to precarious financial situations. Credit card balances can quickly spiral out of control.

What does asset liquidation mean?

Chapter 7 bankruptcy is a legal tool that may help some Tennessee residents eliminate their debts and improve their financial futures. However, as it does require individuals to meet certain criteria, it is important that readers talk to their attorneys about whether this form of personal bankruptcy will meet their needs. Chapter 7 bankruptcy requires individuals who do not have enough income to sell off or liquidate their assets in order to have funds to pay their creditors.

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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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