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.

How Much Will I Have to Pay in a Chapter 13 Bankruptcy?

March 1, 2018 Brian V. Lee

Chapter 13 bankruptcy is sometimes called the “wage-earner’s bankruptcy.” The Chapter 13 Plan requires a monthly payment over a period of 36 to 60 months. Self-employed people cut a monthly check to the Chapter 13 trustee. People employed by companies [ . . . ]

What is a Motion for Relief from Automatic Stay?

February 13, 2018 Brian V. Lee

In bankruptcy, a Motion for Relief from Automatic Stay (in short, an “MFRS”) is an attempt by a creditor to initiate or continue certain collection efforts. The Automatic Stay takes immediate effect in every bankruptcy case. The Automatic Stay prohibits creditors from [ . . . ]

Protect Your Tax Refund in Bankruptcy

February 5, 2018 Brian V. Lee

If you are due a tax refund and file bankruptcy, you must take proactive steps to protect it. Asset protection is a big part of what bankruptcy lawyers do. If you want to protect your tax refund in bankruptcy, talk [ . . . ]

Select the Best Bankruptcy Lawyer for You

January 22, 2018 Brian V. Lee

Select the best bankruptcy lawyer for you. Make a personal connection, communicate, and ask questions. If you have a problem and want to tell someone about it, then you will probably want to tell a friend. Friends listen, and although [ . . . ]

Don’t Send Good Money After Bad

December 7, 2017 Brian V. Lee

Don’t send good money after bad. Have you heard the phrase? It means spending even more money on an investment with the hope of recouping your original investment. Most of our clients feel their credit card purchases to be investments. From [ . . . ]

Bankruptcy Could Help You Keep Your Security Clearance

November 20, 2017 Brian V. Lee

All security clearance levels are subject to periodic reinvestigation. Confidential clearances require renewal every 15 years, Secret requires every 10 years, and Top Secret requires reinvestigation every 5 years. Bankruptcy will definitely affect your initial security clearance review and, in [ . . . ]

New Chapter 7 Means Test Numbers Take Effect

November 1, 2017 Brian V. Lee

New Chapter 7 means test numbers take effect November 1, 2017. The means test numbers purport to state the median income per family size based on jurisdiction. To file a Chapter 7 bankruptcy, you must qualify under the Chapter 7 bankruptcy [ . . . ]

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