Does My Spouse Have to File Bankruptcy, Too?
When you get married, your finances become closely intertwined with the finances of your spouse. If you are considering filing for bankruptcy in the Washington DC area, you may wonder: Does my spouse have to file bankruptcy, too? The answer to this question is not a simple one. There are situations when it makes sense […]
What is the Bankruptcy Means Test?
If you want to file Chapter 7 bankruptcy, you must pass the Chapter 7 bankruptcy means test. Congress designed the Chapter 7 bankruptcy means test to prevent higher income-earners from discharging debts they have income sufficient to pay. The means test affects the chapter of bankruptcy under which you are eligible to file. Discuss your […]
What is a 341 Hearing?
What is a 341 hearing? Well, that’s a savvy question. The 341 hearing is otherwise known as the Meeting of Creditors. The Bankruptcy Code requires debtors to attend a Meeting of Creditors shortly after a bankruptcy filing. The bankruptcy trustee assigned to the case conducts the hearing. The meeting takes place in the trustee’s meeting […]
Will I Lose Any Property if I File Chapter 7 in DC?
The best way to determine if you’ll lose any of your property is to speak with a qualified and experienced attorney. We can advise you as to what your rights are and how the bankruptcy process will go. Lee Legal is totally up front with our clients. We will let you know what property you […]
Should I File a Chapter 13 in Maryland?
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 to file under. Talk to a qualified and experienced Maryland bankruptcy lawyer. Call Lee Legal […]
Lien Strip in Chapter 13 Bankruptcy
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 sometimes allows bankruptcy debtors to keep their homes. Most Chapter 13 lien strips also allow […]
Avoiding Bankruptcy Can Cost You Money
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 the following before consulting an attorney: Borrow money to pay for borrowed money Draw down […]
The Bankruptcy Courses: Credit Counseling and Debtor Education
In most bankruptcy cases, the main purpose of filing is to obtain a discharge. The bankruptcy discharge is essentially a legal injunction against the enforcement or collection of debts. To obtain your bankruptcy discharge, you must complete two separate courses: credit counseling and debtor education. Via different providers, you can take these courses either online […]
What Will Happen to My Timeshare in Bankruptcy?
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 The Queen of Versailles? If you own a timeshare, you should give it a look. The […]