All Press Releases for June 27, 2013

Knoxville Bankruptcy Lawyers, Clark & Washington, Speak to 426 Bankruptcies for Knoxville in April

There was a slight decline in the number of Knoxville bankruptcy filings from March to April of this 2013. This follows the national trend of declining Chapter 13 and Chapter 7 bankruptcies.

    NORCROSS, GA, June 27, 2013 /24-7PressRelease/ -- There was a slight decline in the bankruptcy filings between the month of April 2013 and March.

Knoxville bankruptcies in March totaled 497, while April's figures showed 426 filings. March is often the highest month for filings nationally.

Knoxville bankruptcies are declining slowly but overall Tennessee still has the highest fling rates in the nation. Two options to be considered when filing for bankruptcy would be:
- Chapter 13 - a restructuring of debt to be paid over time
- Chapter 7 - assets are sold to satisfy the debtors

The decision on which form of bankruptcy is best for your situation should be discussed in depth with an experienced Knoxville bankruptcy attorney.

Bankruptcies have increased due to economic crisis that our nation is facing. When successfully implemented, filing for bankruptcy can help many consumers to recover from financial hardship.

Knoxville bankruptcy law can be complex so having an experienced attorney on your side will help you reach a satisfactory conclusion.

The most common reasons that consumers file in Knoxville bankruptcy court are divorce, loss of wages and mounting medical debt. These situations are already very stressful and heart wrenching and with a professional intermediary, such as a Knoxville bankruptcy attorney, you can find objective assistance. You will be asked to provide extensive documentation to be evaluated so that your case can be structured to fit your needs.

Filing for bankruptcy can help alleviate a difficult financial situation and with proper execution under Chapter 13 you can retain your assets. In some cases, Chapter 7 may prove to be the best course of action because it would require the dissolution of your assets to pay your debt.

It is to your benefit to thoroughly consider the experience in Knoxville bankruptcy law that your attorney can offer. The laws and the unique aspects of your case should be discussed and explained in detail so that you are comfortable with the decisions that are made in your case. You will be more comfortable as you move through the process if you are confident in your choice of representation.

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About Clark & Washington:

Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter 7 and chapter 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.

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Allie Petit
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