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How Bankruptcy Prevents Foreclosure
Though most people automatically associate the word “bankruptcy” with disaster, fortunately that’s just not true. Bankruptcy can actually help prevent a debt-related catastrophe like foreclosure. And a good bankruptcy attorney will be there with you through every step of the process. Read on to learn how bankruptcy prevents foreclosure. Foreclosure filings — default notices, scheduled auctions…
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5 Reasons Why NFL Players Declare Bankruptcy
NFL players declare bankruptcy with surprising regularity. Warren Sapp, the seven-time Pro-Bowler and Hall of Fame defensive tackle, earned a whopping $82 million during his 13-year career that ended in 2007. By the spring of 2012, however, Sapp had filed for Chapter 7 bankruptcy. At that time, Sapp was still pulling in $116,000 per month…
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Your Best Debt Defense May Be Bankruptcy
Unresolved debts can take an enormous toll on your overall quality of life. If you feel anxious every time your telephone rings or get a knot in your stomach when retrieving your mail, you may gain peace of mind by seeking bankruptcy protection. In fact, your best debt defense may be bankruptcy. The two main…
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How Long After Bankruptcy Until I Can Buy a Home?
You finished your bankruptcy and got rid of your debts. Now you may be asking yourself: How long after bankruptcy until I can buy a home? The chapter of bankruptcy matters It may not surprise you, but lenders view Chapter 7 and Chapter 13 bankruptcies very differently. Chapter 7 is the quick and easy process…
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Bankruptcy Debtors by the Numbers
If you’re interested in who is filing bankruptcy, look into the latest ABI Journal’s Bankruptcy by the Numbers to learn more about bankruptcy debtors by the numbers. Decline in bankruptcy filings Bankruptcy filings have declined by nearly one-third since peaking in September 2010. And the total number of bankruptcy filings across all demographics have declined…
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Chapter 7 Bankruptcy: How Much Does it Cost?
So how much does bankruptcy cost? When you seek bankruptcy protection under chapter 7 in Washington, DC, you are obviously in debt trouble. Not only that, but chapter 7 is also means tested, which means that you must have low-income by definition. Unfortunately, despite the fact that you are already facing serious financial problems, there…
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Business Bankruptcy: Personal Assets in a Chapter 7 Liquidation
If your business has significant debt, bankruptcy may be the solution. Businesses can file for bankruptcy protection under both Chapter 7 and Chapter 11 of the Bankruptcy Code. Both provide effective but very different protections from creditors. In some cases, business bankruptcy can involve the personal assets in a Chapter 7 liquidation. You may want…
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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…
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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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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…
Chapter 7
More About
Chapter 7
Chapter 7 bankruptcy is the fastest and most powerful way to eliminate overwhelming debt legally and permanently. Filing immediately triggers an automatic stay — stopping creditor calls, wage garnishments, lawsuits, and foreclosure proceedings the moment your case hits the court. Most Chapter 7 cases are resolved in three to four months, giving you a clean financial slate far sooner than most people expect.
Lee Legal has helped thousands of individuals and families across Washington DC, Virginia, and Maryland successfully file Chapter 7 bankruptcy and reclaim their financial lives. Attorney Brian Lee brings over 20 years of bankruptcy experience to every case — and he’ll work directly with you from your first free consultation to your final discharge.
Browse our Chapter 7 resources below, or call us today at (202) 448-5136 to find out if Chapter 7 is right for you. Every consultation is free and confidential.
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