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.

Increasing Debt is the New Economic Crisis

March 17, 2016 Brian V. Lee

A Time article Why the World’s Debt Epidemic May Lead to a New Economic Crisis (free for subscribers) posits that there is an unprecedented amount of public, private and consumer debt in the world today. Specifically, there’s now $57 trillion [ . . . ]

Get a Second Chance at Life with Bankruptcy

March 11, 2016 Brian V. Lee

Dealing with unmanageable debts can completely take over your life. You don’t get that many opportunities in life to start over. But you can get a second chance at life with bankruptcy. Worrying about losing your car or home can keep [ . . . ]

You Can’t Go to Jail for a Debt

September 22, 2013 Brian V. Lee

A long time ago, when our country was very young, the U.S. had separate prisons for people who could not repay their debts. We called these jails “debtors’ prisons.” Today, we think it preposterous to throw someone in jail for [ . . . ]

When to Consider Filing Bankruptcy

December 9, 2011 Brian V. Lee

In most cases, the very last thing any person wants to do is to consider filing bankruptcy. In many cases, an average person will wait two years longer than he or she should have to file bankruptcy. Don’t rearrange the deck [ . . . ]

Should I Stop Paying My Bills?

May 8, 2011 Brian V. Lee

I often get asked the question, “If I am filing Chapter 7 bankruptcy, should I stop paying my bills?” The answer is Yes and No. Continue to Pay the Bills You Will Still Have After Bankruptcy First the No. You [ . . . ]

Bankruptcy and Marriage

September 9, 2010 Brian V. Lee

When a spouse is involved, filing bankruptcy can be significantly more complicated than filing a simple individual bankruptcy. The intersection of bankruptcy and marriage can create complicated circumstances for both spouses. In many cases, a married couple may find themselves [ . . . ]

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