William E. Maddox Jr., L.L.C. - Knoxville Bankruptcy Attorney

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Getting out of debt can start with bankruptcy

It’s easy to find yourself in debt, especially with how simple it can be to get a credit card. You’ve seen when you’ve received preapprovals in the mail or when your card limit was suddenly increased because of the amount of time you’ve been with the company. While those times may have seemed exciting once, knowing that you’re in over your head in debt now can make you dread opening up your bill.

The United States, and Knox County, suffered a recession that is still in the process of recovery. The economy was so devastated that many people lost their jobs or were laid off temporarily, making it harder to make ends meet. Even if a person was lucky enough to keep a job, a cut in hours or an injury could mean that money is hard to come by.

An option to clear up credit card debt is a Chapter 13 bankruptcy plan. This plan allows you to reorganize your payments to make them more affordable. You may pay them back over several years, allowing you the time you need to get back on your feet. If you’ve been struggling with medical issues, then a bankruptcy may be able to help you get those bills discharged, so you can focus on your health instead of your finances.

Our website has more information on credit card debt, student loan debts, medical bills and other financial strains you may be facing. With the right information, you may be able to use bankruptcy or another method to get out of debt and back to living your life.

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