Bankruptcy is the legal discharge of debt. If you have taken on more debt than you are able to repay, the law allows you to eliminate most and often all of your debt in bankruptcy. For some debtors, this can have the effect of providing a whole new start in life. The United States Bankruptcy Code is complicated and constantly changing, however, so great care must be taken in preparing a bankruptcy petition.

Chapter 7 and Chapter 13 are the two types of bankruptcy typically available to individual or joint debtors. In either type of bankruptcy, the court issues an nifty order called the “automatic stay,” which directs your creditors to cease all collection activities immediately under penalty of sanction. If your home is scheduled for a foreclosure sale, the sale will be legally postponed while the bankruptcy is pending, typically for three to four months.

If you are considering filing for bankruptcy in Washington, D.C. , Virginia or Maryland, it is strongly recommended that you contact a knowledgeable bankruptcy attorney immediately.

Lee Legal is a debt relief agency as defined by 11 U.S.C. § 528(a)(4). In other words, we help people file for relief under the Bankruptcy Code.

Do Not Be Like Detroit

July 22, 2013 Brian V. Lee

On July 18, 2013, the city of Detroit filed for protection under Chapter 9 of the Bankruptcy Code. Major legal brawls are now in the works for the nation’s 18th largest city, its 9,500 employees, and nearly 20,000 retirees drawing [ . . . ]

What is a Chapter 13 Bankruptcy?

July 16, 2013 Brian V. Lee

Chapter 13 bankruptcy solves a lot of problems that the other chapters of the Bankruptcy Code cannot. When you get into trouble with debt and are not able to pay your bills, consider seeking bankruptcy protection. As an individual consumer, [ . . . ]

Bankruptcy Could Save Your Home

July 9, 2013 Brian V. Lee

If you are coping with foreclosure, bankruptcy could save your home. While bankruptcy might not just make your mortgage go away, if you want to keep your home, bankruptcy gives you options. Whether or not you’re facing foreclosure, bankruptcy could [ . . . ]

What is a Chapter 7 Bankruptcy?

July 5, 2013 Brian V. Lee

Chapter 7 bankruptcy allows you to quickly and easily get out from under debts that are unmanageable and that you cannot pay back. When you get into trouble with debt and are not able to pay your bills, consider seeking [ . . . ]