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.

Student Loan Debt in DC, Virginia, and Maryland

November 8, 2017 Brian V. Lee

In October 2017 the Consumer Financial Protection Bureau (CFPB) published a 50 State Snapshot of Student Debt. Since its formation, the CFPB has handled tens of thousands of complaints related to student loan lenders, servicers, and debt collectors. Student loan debt in [ . . . ]

Income Driven Repayment of Student Loans

September 11, 2017 Brian V. Lee

If you are struggling to make the monthly payments on your student loans, consider an income driven repayment plan for your student loans. These programs should make your federal student loan payments more affordable, according to the Federal Student Aid [ . . . ]

When You Should NOT File for Bankruptcy

July 10, 2017 Brian V. Lee

Only bankruptcy will solve certain financial problems. Bankruptcy remains the first and best choice for many common cash-flow and debt issues. Avoiding bankruptcy when it is the smart course of action often does nothing more than make for more difficult [ . . . ]

How Do Student Loans Affect Taxes?

April 5, 2017 Brian V. Lee

Student loans affect taxes in ways very different from other long-term debt obligations. Taxes are an inevitability, as noticed by one of our founders. Our new Constitution . . . promises permanency; but in this world nothing can be said [ . . . ]

Student Loans and the Means Test in Chapter 7 Bankruptcy

March 17, 2017 Brian V. Lee

The Chapter 7 “means test” determines whether your income qualifies you for a Chapter 7 bankruptcy. Otherwise known as the Chapter 7 Statement of Your Current Monthly Income, the means test prevents debtors with higher-than-median income from filing Chapter 7 [ . . . ]

Is There a Statute of Limitations on Student Loans?

February 16, 2017 Brian V. Lee

A statute of limitations sets the maximum time after you default on a debt within which the creditor can sue you. Statutes of limitations protect defendants from plaintiffs who do not pursue legal actions with reasonable diligence. The Department of [ . . . ]

Student Loans are Holding Back Home Ownership

December 29, 2016 Brian V. Lee

America’s student-loan debt grows by $2,726 every second. Total student loan debt in the United States has topped $1.3 trillion, second only to mortgage debt. Nearly one-third (30%) of Americans know someone who has delayed the purchase of a home because of [ . . . ]

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