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.

What is a Proof of Claim in Bankruptcy?

June 6, 2010 Brian V. Lee

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 [ . . . ]

Bankruptcy Conversion from Chapter 13 to Chapter 7

June 1, 2010 Brian V. Lee

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 [ . . . ]

What is the Bankruptcy Discharge?

May 27, 2010 Brian V. Lee

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, [ . . . ]

A Short Glossary of Bankruptcy Terms

May 19, 2010 Brian V. Lee

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 [ . . . ]

File Chapter 13 Bankruptcy to Delay Foreclosure

May 11, 2010 Brian V. Lee

If you are behind on your mortgage payments, your mortgage company will take legal action to foreclose on your home. Many homeowners are willing to take whatever measures necessary to keep their homes, even for an indefinite time. Chapter 13 [ . . . ]

The Top Ten Reasons For Bankruptcy

April 26, 2010 Brian V. Lee

You have your own story, but so do we all. If you’re considering bankruptcy, you may feel isolated or uniquely afflicted. But you are not alone. In fact, certain recurring circumstances lead people to file bankruptcy. Here are the top [ . . . ]

What NOT To Do Before Filing Bankruptcy

April 25, 2010 Brian V. Lee

Taking the wrong actions either before or during your bankruptcy can badly damage your chances of obtaining a favorable outcome. Understanding your rights and responsibilities can help assist you to minimize your risks. Consult with a bankruptcy lawyer to help [ . . . ]

16 Most Frequently Asked Questions About Bankruptcy

August 4, 2009 Brian V. Lee

There are no stupid questions. You probably have very reasonable questions about how filing bankruptcy will affect you personally. Over the years, I have answered many recurring questions. Here are the 16 most frequently asked questions about bankruptcy. If I [ . . . ]

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