Tennessee is in the process of setting up a $7 million grant program to combat blight. They plan to buy up the vacant properties and transform them into affordable housing, parks, and other useful, renewed spaces. As part of this program, the Memphis City Council is considering a new nonprofit that would target blight in Memphis.
Blight refers to dilapidated, abandoned properties that can sometimes lay dormant for years, leading to an increase in crime and lack of investment in certain neighborhoods.
I applaud efforts to repair blighted neighborhoods. But obviously, it’s even better if we can prevent blight. Here are 3 ways bankruptcy can help do that:
1) Bankruptcy helps people in debt keep their homes.
Our bankruptcy lawyers help families stop foreclosure in Memphis every day – it’s one of the most common things we do for our clients. We work with the creditors and the courts, and can even help you set up a payment plan that’s actually affordable for you.
2) Bankruptcy helps people get out of other debts holding them back.
Sometimes it’s not just the home itself that costs so much money. Maybe you can’t afford to maintain it because of all the other debts in your life. Bankruptcy can help you get rid of those debts completely, so you can focus on taking care of your family’s most important needs.
3) Bankruptcy gives people hope.
The decision to file for bankruptcy isn’t easy, but the process is, and life afterwards can be much better. I’ve seen people leave my office so relieved, because their lives are finally back on track. I even offer a program to help clients rebuild their credit score. You can learn more about all of this in my free Life After Bankruptcy report.
Hope for Anyone Struggling with Debt in Memphis
So many people in Memphis feel like the situation is hopeless, but that’s not what we see in our office every day. I know our community can tackle blight, and it starts with giving people options when they’re in over their heads.
If you’re struggling to keep your home and want to stop foreclosure, please contact me online or give me a call today at 901-327-2100. I’m happy to help, and the conversation is free.