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.

The Hidden Costs of Owning a Home

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According to the Urban Institute, 63 percent of millennials who bought homes have regrets resulting from underestimating the hidden costs. Zillow found that American homeowners spend nearly $9,400 in hidden costs to own and care for a median-priced home. Let’s [ . . . ]

Austerity Measures, or How to Avoid Bankruptcy, No. 1

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Austerity measures in Greece have set off violent riots and nationwide strikes over the last decade. In 2010, Greece suffered a sovereign debt crisis, sometimes called the Greek Depression. A member of the European Union, Greece requested a bailout, which [ . . . ]

Retail Therapy Is a Symptom, Not a Cure

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Americans love to shop.  The shopping process can be an emotionally gratifying experience, allowing us to exercise freedom of choice and expression. But contemplating and planning our purchase generates excitement which combats stress. Oftentimes, retail therapy is a symptom of [ . . . ]

The Six Stages of Civil Litigation

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9 Best Personal Finance Apps of 2019

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