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.

Working with Your Student Loan Servicer

October 3, 2018 Brian V. Lee

Working with your student loan servicer becomes especially important if you experience difficulty in making your monthly payment. If default is inevitable With most student loan servicers, you have more options available to you if you contact them before you [ . . . ]

The 6 Biggest Student Loan Debt Mistakes to Avoid

December 22, 2017 Brian V. Lee

About $84 billion of the approximately $1.37 trillion in student loan debt that Americans owe is in default. Increasingly, student loan borrowers are finding it too difficult to repay and are simply defaulting. From loan inception to repayment, here are 6 student loan [ . . . ]