What is a Proof of Claim in Bankruptcy?
In bankruptcy, a Proof of Claim is a creditor’s written statement detailing the creditor’s claim against the debtor. A Proof of Claim is usually filed in Chapter 13 cases. But Proofs of Claim are sometimes filed in Chapter 11 and Chapter 7 cases, as well. Why file a Proof of Claim? A creditor may be […]
Bankruptcy Conversion from Chapter 13 to Chapter 7
If you qualify for Chapter 7 bankruptcy, then you are legally entitled to a bankruptcy discharge of all eligible debts. On the other hand, in Chapter 13 bankruptcy, you propose to repay some pre-arranged portion of your debt. Under certain circumstances, conversion from Chapter 13 to Chapter 7 is appropriate. Conversion from Chapter 13 to […]
Stop Foreclosure in Washington DC, Virginia and Maryland
Lee Legal assists real estate agents representing sellers who are facing foreclosure. We stop foreclosure in Washington DC, Virginia and Maryland. We work with realtors to ensure a smooth sale outside of the foreclosure process. When a Seller is Facing Foreclosure Often realtors are approached by sellers who have lots of equity in their homes, […]
What is the Bankruptcy Discharge?
What is the Bankruptcy Discharge? Usually, the whole reason to declare bankruptcy is to obtain the bankruptcy discharge. Once you have received your discharge in bankruptcy, no discharged creditor can take any enforcement action against you, ever. In other words, the discharge order forever prohibits any type of collection effort against you for a discharged […]
The Automatic Stay Immediately Stops All Creditor Activity
If you are considering filing bankruptcy in Virginia, Maryland, or Washington, D.C., you should be aware of a nifty feature of the Bankruptcy Code called the Automatic Stay. Whether you file for Chapter 7 or Chapter 13, the Automatic Stay directs your creditors to cease all collection activities immediately or face court sanction. In short, […]
A Short Glossary of Bankruptcy Terms
Here is a short glossary of essential bankruptcy terms. Many definitions are not included. Do not attempt to manipulate concepts you do not fully understand. Call an attorney if you have a legal problem. Bankruptcy terms: A – C Adversary Proceeding: A lawsuit related to a bankruptcy case and commenced by filing a complaint with […]
Top Three Reasons to File Bankruptcy
Bankruptcy is not appropriate for every situation, and the primary concern of a bankruptcy lawyer is to explore all of the options to determine whether bankruptcy or some other option is the best choice for you. No one intentionally chooses financial hardship. But how you face your adversity impacts your outcome. Here are the Top […]
Debt Settlement Companies are Rip-Offs
There exists no independent research on the success rates of so-called “debt settlement” companies. Both internal company reports and copious anecdotal evidence suggest that fewer than one in four of those who hire these companies actually complete their programs. Even more troubling, most debt settlement clients are sued by their creditors while in a debt settlement […]
What is Skip Tracing?
Skip tracing (or “skiptracing”) is the imprecise and frequently inartful process of locating a person’s whereabouts by whatever means available to the skip tracer. Skip tracing tactics are most often employed by debt collectors, although the methods are also used by law enforcement, private investigators, bounty hunters, and journalists. Skiptracing is also sometimes referred to […]