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 Silver Lining to Filing Bankruptcy

September 25, 2017 Brian V. Lee 0

Bankruptcy solves all sorts of financial problems. But when you’re facing the choice of filing bankruptcy, it can be easy to see only the downsides. If you decide that bankruptcy is the best option for you, try to focus on [ . . . ]

What If I Can’t Pay My Bills Anymore?

August 23, 2017 Brian V. Lee 0

Bankruptcy does not help you pay your bills. If you’re going to go right back into new debt after eliminating all of your old debts, bankruptcy might not be right for you. Or it might not be right for you [ . . . ]

When You Should NOT File for Bankruptcy

July 10, 2017 Brian V. Lee 0

Only bankruptcy will solve certain financial problems. Bankruptcy remains the first and best choice for many common cash-flow and debt issues. Avoiding bankruptcy when it is the smart course of action often does nothing more than make for more difficult [ . . . ]

Is Bankruptcy the Best Option For Me?

June 19, 2017 Brian V. Lee 0

There are times when a person has no choice but to declare bankruptcy, and the decision to file will not be a very challenging one at all. However, bankruptcy considerations are often accompanied by emotional stress and strain on personal [ . . . ]

7 Uncommon Bankruptcy Assets

May 16, 2017 Brian V. Lee 0

When you declare bankruptcy, you must be honest in your statements. You must list all of your property, even the most uncommon bankruptcy assets. List your assets in Schedule A/B. Be sure to include all real property, vehicles, inventory, home [ . . . ]

Don’t Face Your Debt Alone

May 1, 2017 Brian V. Lee 0

Don’t face your debt alone. Hire a lawyer to stand up for you to your creditors. You want a lawyer who understands you and your goals. But also you want a lawyer who understands your creditors and the entire debt [ . . . ]

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