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.

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 [ . . . ]

What Is Preforeclosure?

January 18, 2018 Brian V. Lee

Preforeclosure (or pre-foreclosure) is the period between default on a mortgage and the formal, legal foreclosure process. Mortgage companies typically distinguish these stages by the length of delinquency. The formal foreclosure process in Virginia and Maryland commences between three and [ . . . ]

Business Disputes: When It’s Time to Sue

December 27, 2017 Brian V. Lee

Most business disputes are the result of a breach of contract. Since contracts are written documents, the language of the contract, as well as the actions of the parties, will determine whether the dispute will result in litigation. Be reasonable [ . . . ]

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 [ . . . ]

1 2 3