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.

Don’t Face Your Debt Alone

May 1, 2017 Brian V. Lee 0

Don’t face your debt alone. Hire a lawyer to stand up for you to your creditors. You want a lawyer who understands you and your goals. But also you want a lawyer who understands your creditors and the entire debt [ . . . ]

The Steep Cost of Debt Settlement Companies

March 1, 2017 Brian V. Lee 0

The cost of debt settlement companies is steep, too steep. Debt settlement companies trash your credit and increase your tax liability. And in most cases, debt settlement companies will fail to settle a single debt on your behalf. Here’s why [ . . . ]

The Bankruptcy Threat in Debt Settlement Negotiations

June 21, 2014 Brian V. Lee 0

When attempting to settle a debt or otherwise negotiate with a creditor, the bankruptcy threat is a potent weapon. The credible threat of bankruptcy from your attorney can induce a creditor to reconsider his position during negotiations. Creditors More Willing to Negotiate If You Are Willing to File [ . . . ]

Debt Collection Companies and Negotiating Debts

April 30, 2013 Brian V. Lee 0

For all of the harassing debt collection calls and for all of the threatening letters that my clients receive, it’s amazing how many of these calls and letters come from just a few debt collection agencies. Bank of America, Citibank, [ . . . ]

Debt Settlement Companies are Rip-Offs

May 15, 2010 Brian V. Lee 0

There exists no independent research on the success rates of so-called “debt settlement” companies. Both internal company reports and copious anecdotal evidence suggest that fewer than one in four of those who hire these companies actually complete their programs. Even more [ . . . ]

Alternatives to Bankruptcy

July 28, 2009 Brian V. Lee 0

The decision to declare bankruptcy can be a difficult one. Bankruptcy is not a one-size-fits-all solution. Here are some of the alternatives to bankruptcy: Budgeting, Debt Consolidation, and Debt Settlement. Budgeting First, try to find a way to pay your [ . . . ]