Headline: "Flood of bankruptcies likely in coming months"

Through no fault of their own, thousands of Tennessee families have suddenly found their financial future is in jeopardy.

In fact, since March 15th, over 530,000 Tennesseans have filed for unemployment. And while the re-opening of most businesses is underway across the state, most of those who filed for unemployment are either still looking for a job, or returned to a job with fewer hours and less pay.

Without work, or working for less pay than before, Tennesseans worry about whether they can pay rent and other bills, not to mention essentials such as groceries. 

In a recent survey, nearly 60% say they’ve lost income because of coronavirus, and of those, nearly seven out of 10 are worried about paying bills as well as making loan and mortgage payments.

While many Tennessee families have utilized stimulus checks, as well as aggressively working with their largest debtors to ask for delays in payment....the fact is, there is still too little too late...and a return to normalcy seems even further down the road. To that end, many are considering the legal remedy of personal bankruptcy, with some experts predicting a 'flood of bankruptcies likely in coming months".

The federal bankruptcy code is written to protect people who can't pay their debts.  Bankruptcy can help you wipe out debt through discharge, create viable debt repayment plans or alter the terms of your debt.

If this crisis has created a personal financial situation you feel is out of control for you...contact us for a FREE CONSULTATION for debt resolution and/or bankruptcy at (731) 423-1888. The law office of T. Verner Smith has helped thousands overcome financial problems, and can help you too. Call today!