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.

How Bankruptcy Prevents Foreclosure

February 14, 2016 Brian V. Lee

Though most people automatically associate the word “bankruptcy” with disaster, fortunately that’s just not true. Bankruptcy can actually help prevent a debt-related catastrophe like foreclosure. And a good bankruptcy attorney will be there with you through every step of the [ . . . ]

Bankruptcy Debtors by the Numbers

May 15, 2014 Brian V. Lee

If you’re interested in who is filing bankruptcy, look into the latest ABI Journal’s Bankruptcy by the Numbers to learn more about bankruptcy debtors by the numbers. Decline in bankruptcy filings Bankruptcy filings have declined by nearly one-third since peaking [ . . . ]

What is the Bankruptcy Means Test?

November 19, 2013 Brian V. Lee

If you want to file Chapter 7 bankruptcy, you must pass the Chapter 7 bankruptcy means test. Congress designed the Chapter 7 bankruptcy means test to prevent higher income-earners from discharging debts they have income sufficient to pay. The means [ . . . ]

What Will Happen to My Timeshare in Bankruptcy?

October 13, 2013 Brian V. Lee

I frequently have bankruptcy clients who own timeshares with Blue Green, Marriott, Starwood, Westgate, Wyndham, Hilton, Powhatan, Playa Linda, etc. These clients often want to know: What Will Happen to My Timeshare in Bankruptcy? Have you ever seen the movie [ . . . ]

Student Loan Discharge in Virginia

September 24, 2013 Brian V. Lee

According to American Student Assistance, around 60 percent of all students attending college or pursuing higher education borrow money to pay for tuition. As of 2012, the average student loan balance among all age groups was $24,301, with around a [ . . . ]

What is a Chapter 13 Bankruptcy?

July 16, 2013 Brian V. Lee

Chapter 13 bankruptcy solves a lot of problems that the other chapters of the Bankruptcy Code cannot. When you get into trouble with debt and are not able to pay your bills, consider seeking bankruptcy protection. As an individual consumer, [ . . . ]

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