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 Long Does Bankruptcy Take?

October 9, 2018 Brian V. Lee

How long does bankruptcy take? That depends on whether you file a Chapter 7, Chapter 13, or Chapter 11. Chapter 7 bankruptcy How long your Chapter 7 bankruptcy will take depends upon whether you have assets to distribute. Most Chapter [ . . . ]

What Happens to My Debts When I Die?

August 7, 2018 Gina Mangiaracina

When planning a future for your loved ones, you do not want your legacy to include a mountain of debt. Many people are unaware that their debts can continue to haunt those they leave behind. Whoever you select to manage [ . . . ]

Top 7 Reasons People Declare Bankruptcy

July 24, 2018 Brian V. Lee

People don’t declare bankruptcy for the fun of it. Bankruptcy results from a financial hardship from which a person cannot recover within a reasonable amount of time. Lots of circumstances can lead to personal bankruptcy. Here are the top 7 [ . . . ]

Personal Liability For Business Debts

June 19, 2018 Brian V. Lee

Businesses are not liable for the personal debts of the business owner. Likewise, neither is the business owner automatically liable for the debts of the business. There are two ways in which personal liability for business debts can arise: by personal guarantee [ . . . ]

How Do I Get My Transcripts If I Owe My College Money?

June 14, 2018 Brian V. Lee

Academic transcripts are the property of a school. Each school makes its own policy about whether to release transcripts. No federal law requires a school to release official academic transcripts to an indebted student. Bankruptcy and debt defense attorneys get [ . . . ]

How to Prevent Vehicle Repossession

June 12, 2018 Brian V. Lee

If you fall behind on car payments, you run the risk of repossession. Some lenders are quicker than others to repossess, but most wait until the third month of non-payment. There are several methods to prevent vehicle repossession. Your lender [ . . . ]

File Bankruptcy to Stop a Lawsuit

May 1, 2018 Brian V. Lee

If a creditor sues you on a debt, you should know that you can file bankruptcy to stop a lawsuit. A creditor may sue you for the debt on repossessed car, broken lease, or credit card. Or a former lender [ . . . ]

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