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.

What is a Proof of Claim in Bankruptcy?

June 6, 2010 Brian V. Lee

In bankruptcy, a Proof of Claim is a creditor’s written statement detailing the creditor’s claim against the debtor. A Proof of Claim is usually filed in Chapter 13 cases. But Proofs of Claim are sometimes filed in Chapter 11 and [ . . . ]

Bankruptcy Conversion from Chapter 13 to Chapter 7

June 1, 2010 Brian V. Lee

If you qualify for Chapter 7 bankruptcy, then you are legally entitled to a bankruptcy discharge of all eligible debts. On the other hand, in Chapter 13 bankruptcy, you propose to repay some pre-arranged portion of your debt. Under certain [ . . . ]

What is the Bankruptcy Discharge?

May 27, 2010 Brian V. Lee

What is the Bankruptcy Discharge? Usually, the whole reason to declare bankruptcy is to obtain the bankruptcy discharge. Once you have received your discharge in bankruptcy, no discharged creditor can take any enforcement action against you, ever. In other words, [ . . . ]

A Short Glossary of Bankruptcy Terms

May 19, 2010 Brian V. Lee

Here is a short glossary of essential bankruptcy terms. Many definitions are not included. Do not attempt to manipulate concepts you do not fully understand. Call an attorney if you have a legal problem. Bankruptcy terms: A – C Adversary [ . . . ]

Top Three Reasons to File Bankruptcy

May 18, 2010 Brian V. Lee

Bankruptcy is not appropriate for every situation, and the primary concern of a bankruptcy lawyer is to explore all of the options to determine whether bankruptcy or some other option is the best choice for you. No one intentionally chooses [ . . . ]

Another Disclaimer

May 14, 2010 Brian V. Lee

Another disclaimer from Lee Legal. We assume zero liability for the information provided in this blog. Call us if you are seriously considering filing for bankruptcy protection. Lee Legal assumes legal liability for neither the timeliness nor the accuracy of [ . . . ]

Documents Required to File Bankruptcy

May 13, 2010 Brian V. Lee

The documents required to file bankruptcy are usually not too difficult to obtain. If you are getting ready to file bankruptcy, start gathering together the documents your bankruptcy attorney will need to draft and file your case. You will sign your [ . . . ]

File Chapter 13 Bankruptcy to Delay Foreclosure

May 11, 2010 Brian V. Lee

If you are behind on your mortgage payments, your mortgage company will take legal action to foreclose on your home. Many homeowners are willing to take whatever measures necessary to keep their homes, even for an indefinite time. Chapter 13 [ . . . ]

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