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.

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 [ . . . ]

Business Bankruptcy: Chapter 7

July 28, 2009 Brian V. Lee

If your company or business is so far in debt that it can’t continue business operations, consider business bankruptcy. Many different types of businesses can be good candidates for under Chapter 7 bankruptcy. Business Bankruptcy: Chapter 7 Chapter 7 bankruptcy [ . . . ]

Alternatives to Bankruptcy

July 28, 2009 Brian V. Lee

The decision to declare bankruptcy can be a difficult one. Bankruptcy is not a one-size-fits-all solution. Here are some of the alternatives to bankruptcy: Budgeting, Debt Consolidation, and Debt Settlement. Budgeting First, try to find a way to pay your [ . . . ]

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