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.

Should I File a Chapter 13 in Maryland?

October 29, 2013 Brian V. Lee

Deciding whether to file for bankruptcy is an important choice. Once you’ve made the decision to get serious help with dealing with your debt, you have another choice to make. You need to decide which chapter of the bankruptcy code [ . . . ]

Lien Strip in Chapter 13 Bankruptcy

October 24, 2013 Brian V. Lee

The lien strip in Chapter 13 bankruptcy can remove a lien guaranteeing a loan against your real property. The lien strip reclassifies the second mortgage or home equity line of credit (“HELOC”) from secured debt to unsecured debt. Lien stripping [ . . . ]

Avoiding Bankruptcy Can Cost You Money

October 21, 2013 Brian V. Lee

Avoiding bankruptcy when you know that it’s the smartest choice can cost you money. In almost every case my clients really did everything they possibly could to avoid bankruptcy. But mistakes are easy to make. Do not do any of [ . . . ]

What Will Happen to My Timeshare in Bankruptcy?

October 13, 2013 Brian V. Lee

I frequently have bankruptcy clients who own timeshares with Blue Green, Marriott, Starwood, Westgate, Wyndham, Hilton, Powhatan, Playa Linda, etc. These clients often want to know: What Will Happen to My Timeshare in Bankruptcy? Have you ever seen the movie [ . . . ]