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.

Student Loans: The Only Type of Risk-Free Lending

February 27, 2018 Brian V. Lee

The only type of risk-free lending in the United States is student lending. Student loans cannot be discharged in bankruptcy and can even survive your death. No other type of lender in America is afforded the same protections as student [ . . . ]

Ain’t No Money — Roseanne Cash

February 25, 2018 Brian V. Lee

Every day now I hear people say My ship is sailing, could be any day Any day now It might not feel so blue My baby tells me, “Stop and look around If you ain’t careful, hon, you’re trouble-bound” Run [ . . . ]

What Is Mortgage Reinstatement?

February 22, 2018 Brian V. Lee

Mortgage reinstatement is your first and best loss mitigation option when facing foreclosure. Mortgage reinstatement means catching up your missed mortgage payments, along with all associated late fees and charges. To reinstate, you must pay the full amount due and owing [ . . . ]

How Do We Reverse Extreme Wealth Concentration?

February 19, 2018 Brian V. Lee

The Institute for Policy Studies (IPS) published a white paper titled Billionaire Bonanza: The Forbes 400 and the Rest of Us. The IPS is a multi-issue think tank that has been conducting research on inequality for more than 20 years. The key [ . . . ]

What is a Motion for Relief from Automatic Stay?

February 13, 2018 Brian V. Lee

In bankruptcy, a Motion for Relief from Automatic Stay (in short, an “MFRS”) is an attempt by a creditor to initiate or continue certain collection efforts. The Automatic Stay takes immediate effect in every bankruptcy case. The Automatic Stay prohibits creditors from [ . . . ]

Glamorous — Fergie ft. Ludacris

February 11, 2018 Brian V. Lee

If you ain’t got no money Take yo’ broke ass home If you ain’t got no money Take yo’ broke ass home G-L-A-M-O-R-O-U-S We flying first class Up in the sky Popping champagne Living my life In the fast lane [ . . . ]

How to Handle a Call from a Debt Collector

February 7, 2018 Brian V. Lee

Your cell number is your cell number, and you’re not changing it. You’d lose contact with too many people you care about. Unfortunately, everyone else has it, too. If you’re getting debt collection calls, you may have other things to [ . . . ]

Protect Your Tax Refund in Bankruptcy

February 5, 2018 Brian V. Lee

If you are due a tax refund and file bankruptcy, you must take proactive steps to protect it. Asset protection is a big part of what bankruptcy lawyers do. If you want to protect your tax refund in bankruptcy, talk [ . . . ]

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