Top 7 Reasons People Declare Bankruptcy

Top 7 Reasons People Declare Bankruptcy

People don’t declare bankruptcy for the fun of it. Bankruptcy results from a financial hardship from which a person cannot recover within a reasonable amount of time. Lots of circumstances can lead to personal bankruptcy. Here are the top 7 reasons people declare bankruptcy. Job loss Unemployment benefits simply do not cover living expenses. Losing […]

How to Prevent Foreclosure If You Lose Your Job

How to Prevent Foreclosure If You Lose Your Job

Foreclosures in the United States have dropped to an 11-year low while unemployment has found a 44-year low. How the average American fares, however, does not reflect the circumstances of any particular individual. Statistics simply don’t make a difference when you’re trying to keep your home. Here’s how to prevent foreclosure if you lose your job. […]

Do Not Defend Yourself in a Debt Collection Lawsuit

Don't Defend Yourself in a Debt Collection Lawsuit -- Lee Legal DC VA MD

If a creditor sues you, you have a choice: hire a lawyer or attempt to litigate yourself. Be warned, however: your chances of winning significantly diminish if you try to defend yourself in a debt collection lawsuit. Pro se litigants lose (and lose big) more often than litigants with a lawyer When a litigant defends […]

Repay Your Student Loans in Chapter 13 Bankruptcy

Repay Your Student Loans in Chapter 13 Bankruptcy -- Lee Legal -- DC VA MD

If you file Chapter 13 bankruptcy and choose not to repay your student loans, you could end up in a worse condition than before you filed. To be sure, you can defer repayment of your student loans during the entire duration of your bankruptcy case. But interest will continue to accrue on any unpaid balances, […]

Are All of Your Creditors Listed on Your Credit Report?

The credit bureaus have gotten pretty good about instantaneously obtaining and promptly reporting your personal financial information. The credit bureaus are big, savvy, and flush with cash. But are all of the creditors you owe listed on your credit report? Maybe not. These are some of the most common types of bills and creditors that […]

Questions for Your Mortgage Company If You’re Facing Foreclosure

4 Questions to Ask Your Mortgage Company If You're Facing Foreclosure -- LEE LEGAL -- DC VA MD

If you’re facing foreclosure, stay in contact with your mortgage company. Do not ignore them when they call, and do not ignore their correspondence. Instead, reach out to your lender to determine your options. You will have questions for your mortgage company if you’re facing foreclosure. 4 Questions to Ask Your Mortgage Company If You’re […]