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.

Austerity Measures, or How to Avoid Bankruptcy, No. 1

March 18, 2019 Brian V. Lee

Austerity measures in Greece have set off violent riots and nationwide strikes over the last decade. In 2010, Greece suffered a sovereign debt crisis, sometimes called the Greek Depression. A member of the European Union, Greece requested a bailout, which [ . . . ]

Retail Therapy Is a Symptom, Not a Cure

March 15, 2019 LaTashia Williams

Americans love to shop.  The shopping process can be an emotionally gratifying experience, allowing us to exercise freedom of choice and expression. But contemplating and planning our purchase generates excitement which combats stress. Oftentimes, retail therapy is a symptom of [ . . . ]

Pay Down Debt While Saving for Retirement

January 11, 2019 LaTashia Williams

For many people, debt is the main factor preventing us from achieving our financial goals – without even including retirement savings. However, retirement cannot be left out if we are to be able to retire comfortably and securely when the [ . . . ]

Avoid Debt This Holiday Season

December 7, 2018 LaTashia Williams

We don’t have to incur debt every holiday. Here are some tips that will allow you to avoid debt this holiday season without later financial regret. Budget Make your budget realistic and relative to you. Excluding this factor will decrease [ . . . ]

How to Eat Healthy on a Budget

October 12, 2018 Gina Mangiaracina

Americans love to eat. Each person with an annual income of $75,000 spends nearly $8,000 a year on food and alcohol, according to the Bureau of Labor Statistics. Living on a tight budget, doesn’t have to mean a life of [ . . . ]

6 Tips to Rebound from Bankruptcy

August 30, 2016 Brian V. Lee

When you file for bankruptcy, you’re giving yourself a financial fresh start. Bankruptcy allows you to easily free yourself from debts you have no realistic ability to repay. Although there are many positive benefits from bankruptcy, your credit will still also [ . . . ]

Debt Settlement Companies are Rip-Offs

May 15, 2010 Brian V. Lee

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 [ . . . ]

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 [ . . . ]

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