Because You’re Ready for a Fresh Start

Because You're Ready for a Fresh Start -- LEE LEGAL -- DC VA MD

Because you’re not making enough money to live on. Or because your expenses just are out of control. Because life should be more than nonstop work and worry. You may be ready for bankruptcy. Because you have no assets to speak of. Or because you’re at risk of missing out on basic life necessities. Because […]

Don’t Wait Until You Hit Rock Bottom to File Bankruptcy

Don’t Wait Until You Hit Rock Bottom to File Bankruptcy -- LEE LEGAL -- DC VA MD

You don’t have to be penniless to file bankruptcy. You don’t have to have your back against the wall. And you don’t have to lose everything to get a financial fresh start. Don’t wait until you hit rock bottom to file bankruptcy.  Don’t deplete your savings trying to avoid bankruptcy 57 percent of Americans have less […]

How Long Does Bankruptcy Take?

How Long Does Bankruptcy Take -- LEE LEGAL -- DC VA MD

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 7 cases are completed quite quickly. But if you have unexempt assets, your Chapter 7 […]

You Do Not Have to Be Broke to File Bankruptcy

You Do Not Have to Be Broke to File Bankruptcy

  Megastar veteran rap artist 50 Cent declared Chapter 11 bankruptcy on August 3, 2015. In his bankruptcy schedules, 50 Cent (real name: Curtis James Jackson III) listed assets amounting to $24,823,899.18 and debts totaling $32,509,549.91. The monthly mortgage payment for his $8.25 million mansion is is $17,400, and the value of his vehicles (including […]

How Do I Stop a Garnishment?

How Do I Stop Garnishment?

Garnishment (or “attachment”) is a last-ditch effort at debt collection, a tool of last resort for creditors. When you default on a debt, and the creditor is unsuccessful in recovering on the debt, a judgment may be issued against you to garnish property, bank accounts, or wages. Garnishment can often severely impact your monthly finances, and […]

What is the Chapter 7 Liquidation Test in a Chapter 13 Bankruptcy?

What is the Chapter 7 Liquidation Test in a Chapter 13 Bankruptcy - Lee Legal - DC VA MD

Most consumers must choose between between either Chapter 7 and Chapter 13 bankruptcy. If you have significant assets (like equity in your home) then you may want to file a Chapter 13 bankruptcy. In a Chapter 7 bankruptcy, those assets may be subject to to liquidation by the trustee. But even in a Chapter 13 […]

Can the Bankruptcy Trustee Take My Tax Refund?

Can the Bankruptcy Trustee Take My Tax Refund -- Lee Legal DC VA MD

Your income tax refund is basically an interest-free loan to the government. If you have paid more in taxes than you owe, then the government must repay you for your overpayment. Especially around this time of year, clients ask me the the same question. Can the Bankruptcy Trustee Take My Tax Refund? The short answer […]

Anatomy of a Foreclosure: How Foreclosure Works

Anatomy of a Foreclosure How Foreclosure Works -- Lee Legal -- DC foreclosure attorney

Foreclosure activity in the U.S. totaled 676,535 properties in 2017, down to a 12-year low. Foreclosure activity includes default notices, auction sale notices, and bank repossessions.  Many of those seeking foreclosure assistance ask how foreclosure works. If you are seeking to avoid foreclosure in Washington DC, Maryland, or Virginia, you must educate yourself quickly and […]

Bankruptcy and Marriage

Bankruptcy and Marriage

When a spouse is involved, filing bankruptcy can be significantly more complicated than filing a simple individual bankruptcy. The intersection of bankruptcy and marriage can create complicated circumstances for both spouses. In many cases, a married couple may find themselves entering into complex legal territory when considering bankruptcy. There are four major factors that affect […]