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.

Not Every Financial Mistake Leads to Bankruptcy

March 28, 2018 Brian V. Lee

It’s OK to make mistakes. After all, not every financial mistake leads to bankruptcy. Yet the converse is also true. Not every bankruptcy is caused by mistake. Everyone makes mistakes, but only the wise learn from them. You must allow [ . . . ]

No Money No Honey — Fidlar

March 25, 2018 Brian V. Lee

I’m going down, down to the river I’m gonna bring a 30-pack I’m gonna drink with all my good friends And I ain’t ever, ever coming back I got no money and I’m starving I got nothing left Spent it [ . . . ]

Bankrupt On Selling — Modest Mouse

March 18, 2018 Brian V. Lee

Well, all the Apostles They’re sitting in swings Saying, “I’d sell off my Savior For a set of new rings And some sandals With the style of straps That cling best to the era” So, all of the businessers In [ . . . ]

Avoiding Bank Fees

March 14, 2018 Brian V. Lee

Bank fees are a turn-off, and you should avoid them if you can. Shop around before you open a bank account and know what you’re talking about when you go into a branch. Here are the most commonly charged bank [ . . . ]

Trust Fund Baby — Why Don’t We

March 11, 2018 Brian V. Lee

I don’t want a girl who Gets a car for her sweet sixteen Or spends a stack of dollar bills On a limousine I want a girl who takes the bus And who wears baggy jeans Rockin’ Nike Airs What [ . . . ]

How Much Will I Have to Pay in a Chapter 13 Bankruptcy?

March 1, 2018 Brian V. Lee

Chapter 13 bankruptcy is sometimes called the “wage-earner’s bankruptcy.” The Chapter 13 Plan requires a monthly payment over a period of 36 to 60 months. Self-employed people cut a monthly check to the Chapter 13 trustee. People employed by companies [ . . . ]