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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…
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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…
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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…
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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…
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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…
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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…
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Short Sale vs. Foreclosure in Virginia
If you can’t pay your mortgage and take no action, chances are good that you are going to lose your home. Default on a mortgage invariably leads to foreclosure in Virginia. However, foreclosure is usually the very worst possible alternative. Whenever possible, it is far better to consider other options, including arranging a short sale.…
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Student Loan Discharge in Virginia
According to American Student Assistance, around 60 percent of all students attending college or pursuing higher education borrow money to pay for tuition. As of 2012, the average student loan balance among all age groups was $24,301, with around a quarter of borrowers owing more than $28,000. These high student loan balances are a major…
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You Can’t Go to Jail for a Debt
A long time ago, when our country was very young, the U.S. had separate prisons for people who could not repay their debts. We called these jails “debtors’ prisons.” Today, we think it preposterous to throw someone in jail for simply owing a debt. After all, how would someone earn the money to repay a…
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Can I Keep Living In My Foreclosed Home?
When a mortgage lender forecloses on a property in Washington, DC, the process is not quick. The lender must usually obtain a judicial foreclosure order. And the lender must follow advertising and notification requirements. From beginning to end, the process can take many months or even years before the property actually goes up for auction.…
Posts by Practice Area
- Bankruptcy (228)
- Chapter 11 (6)
- Chapter 13 (70)
- Chapter 7 (63)
- Debt Defense (54)
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