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 Will Bankruptcy Affect My Credit Score?

May 10, 2010 Brian V. Lee

Bankruptcy fixes many past and current financial problems. But before you file, it’s smart to ask: How will bankruptcy affect my credit score? What is my credit score? Your credit score is a numerical expression (between 300 and 850) based [ . . . ]

What is the Statement of Intention?

May 8, 2010 Brian V. Lee

When a homeowner files for Chapter 7 bankruptcy protection, the very first page of the bankruptcy filing that the mortgage company turns to is the Statement of Intention. The Statement of Intention (or Statement of Intent) discloses the debtor’s intention [ . . . ]

The Meeting of Creditors: Who Will Show Up?

May 7, 2010 Brian V. Lee

About a month after you file for Chapter 7 or Chapter 13 bankruptcy, you will need to go to the Meeting of Creditors. Your attendance at this meeting is mandatory. But who else will show up? The Meeting of Creditors [ . . . ]

Repairing Your Credit After Bankruptcy

April 28, 2010 Brian V. Lee

If you are considering filing for bankruptcy protection, you have likely considered what effect it will have on your future finances. After all, bankruptcy is a matter of public record, and the bankruptcy will remain on your credit report for 10 [ . . . ]

Easing the Stress of Bankruptcy

April 27, 2010 Brian V. Lee

If you find yourself in an unmanageable financial situation and don’t see any way out, bankruptcy may be a good solution for you. Bankruptcy can help you reduce or even eliminate your debts. Bankruptcy also provides potent protection against creditor [ . . . ]

The Top Ten Reasons For Bankruptcy

April 26, 2010 Brian V. Lee

You have your own story, but so do we all. If you’re considering bankruptcy, you may feel isolated or uniquely afflicted. But you are not alone. In fact, certain recurring circumstances lead people to file bankruptcy. Here are the top [ . . . ]

What NOT To Do Before Filing Bankruptcy

April 25, 2010 Brian V. Lee

Taking the wrong actions either before or during your bankruptcy can badly damage your chances of obtaining a favorable outcome. Understanding your rights and responsibilities can help assist you to minimize your risks. Consult with a bankruptcy lawyer to help [ . . . ]

Get Advice From a Bankruptcy Lawyer

September 25, 2009 Brian V. Lee

If your personal economy is in the tank, get advice from a bankruptcy lawyer. If you are unemployed or underemployed, it can be a struggle just to make ends meet. Sometimes it can feel like you’re treading water, or worse, [ . . . ]

16 Most Frequently Asked Questions About Bankruptcy

August 4, 2009 Brian V. Lee

There are no stupid questions. You probably have very reasonable questions about how filing bankruptcy will affect you personally. Over the years, I have answered many recurring questions. Here are the 16 most frequently asked questions about bankruptcy. If I [ . . . ]

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