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.

Why Chapter 13 Bankruptcy Cases Get Dismissed So Often

November 15, 2018 Brian V. Lee

Chapter 13 bankruptcy cases get dismissed for lots of different reasons. Most dismissals, however, can be avoided. Chapter 13 is complicated Obtaining trustee and creditor consensus on a court-approved repayment plan takes hard work, finesse, and expertise. Chapter 13 allows [ . . . ]

What is a Notice of Intent to Accelerate?

November 8, 2018 Brian V. Lee

Almost every mortgage contains the requirement that your lender send a Notice of Intent to Accelerate before it can initiate foreclosure proceedings. What is a Notice of Intent to Accelerate? Sometimes called a Default Letter, the Notice of Intent to [ . . . ]

Setting Realistic Foreclosure Defense Objectives

October 30, 2018 Brian V. Lee

If you are facing foreclosure, you must take a pragmatic, level-headed approach to your foreclosure defense objectives. Often time is of the essence, and it will do you no good to explore unrealistic avenues of resolution. One important service that [ . . . ]

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 [ . . . ]

Protect Your Tax Refund in Bankruptcy

February 5, 2018 Brian V. Lee

If you are due a tax refund and file bankruptcy, you must take proactive steps to protect it. Asset protection is a big part of what bankruptcy lawyers do. If you want to protect your tax refund in bankruptcy, talk [ . . . ]

Don’t Send Good Money After Bad

December 7, 2017 Brian V. Lee

Don’t send good money after bad. Have you heard the phrase? It means spending even more money on an investment with the hope of recouping your original investment. Most of our clients feel their credit card purchases to be investments. From [ . . . ]

Top 4 Tax Problems in Bankruptcy

March 15, 2017 Brian V. Lee

The top 4 tax problems in bankruptcy are not particularly easy to avoid. For those facing money problems, taxes are often an afterthought. After all, paying taxes means less money in your paycheck. But the tax problems that most frequently [ . . . ]

1 2 3 5