Concerns about medical debt continue to grow in Tennessee and across the United States. According to a study published in 2013, people who have cancer are 2.5 times more likely to declare bankruptcy. The bankruptcy system is designed to give people a fresh start, and...
Month: August 2018
Young people face significant debt
Debt continues to be a major concern for people of all generations in Tennessee and across the country. Young people ages 16 to 20, known as "Generation Z," already have a significant average debt of $4,343 according to a survey of 2,000 young adults conducted by...
New report shows 1 in 7 bankruptcy filers is retirement age
The financial pressures that can drive anyone in Tennessee to choose bankruptcy hit seniors especially hard. A new report based on data collected by the Consumer Bankruptcy Project revealed a large increase in the number of people 65 and over who have declared...
After I file for Chapter 7 or 13, how soon can I buy a house?
Many people are concerned about the impact of a Chapter 7 or Chapter 13 filing on their credit scores, which always drop low after a bankruptcy is done. A lot of those consumers worry that it will be a long time before they can get a mortgage or another major loan....
More seniors seeking debt relief in bankruptcy
An increasing number of senior citizens in Tennessee and across the country are facing financial crises up to the point of filing for bankruptcy, statistics show. More seniors than ever before are seeking personal bankruptcy, with that number doubling since 2013....
Bankruptcy after 65 is far more common than ever. Is that bad?
For many older Americans, life has become harder to afford, and debt has become harder to manage. Findings from a recent study reported by the New York Times indicate that a big change in bankruptcy demographics illustrates a pervasive economic problem that many...