The Associated Press issued the following tweet this morning…

This is both good and bad. It’s good that weekly jobless claims are at pre-recession levels, however it’s worrisome that there’s an increase in Americans seeking jobless benefits. It’s even more worrisome here in Memphis, a community that typically sits behind the curve and tends to have a higher unemployment rate than other bigger cities.


In fact, as of this past Janurary, Memphis’ unemployment rate is 8.4%, which ranks 43rd among the 50 largest metropolitan areas in the US, according to the US Department of Labor.

As a Memphis bankruptcy attorney who’s practiced in this city for decades, I know many Memphians are struggling. It can be tough to get by, especially when you’re living off unemployment benefits due to a loss of job or whatever the reason.

If you’re someone who’s struggling with debt you just can’t pay and it’s controlling your life, you don’t have to live with that. By filing for bankruptcy, you can either discharge your debt through a Chapter 7 or lump all of your debt into an affordable 3-5 year repayment plan through a Chapter 13.

And I don’t want you to look at a bankruptcy as a bad thing. You owe it to yourself to get rid of this debt. After all, how much of that debt was really earned by you and how much of it was from late fees and high interest payments? Here in the US, you don’t have to be enslaved to that debt – you’re entitled to a second chance and that’s through a bankruptcy.

Part of that second chance is making positive changes in your spending and putting forth the effort to re-establish and rebuild your credit the right way so that you can avoid this situation in the future.

We have a great 14-week program that will help you get started called “7 Steps to a 720.” This program, which is free for our clients, will teach you:

  • how to rebuild your credit the right way

  • why most credit scores are wrong

  • which credit cards actually hurt your credit score

  • how to stop lenders that report the wrong information

  • how to re-establish your credit after a bankruptcy

If you’re struggling to pay off your debt, I strongly encourage you to think about a bankruptcy. If you have any questions or if you’re considering filing for bankruptcy, contact us today by filling out the “Get in Touch” form below or by calling us at (901) 327-2100. One of our experienced Memphis bankruptcy attorneys will be happy to sit down and discuss your situation with you, free of charge.