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.

Will a Loan Modification Hurt My Credit Score?

February 11, 2019 Brian V. Lee

If you fall behind on your mortgage, you have options, but you must be proactive. One of the best ways to get back on track with your mortgage is loan modification. But will a loan modification hurt your credit score? [ . . . ]

Can Eviction Happen in Cold Weather?

November 30, 2018 Brian V. Lee

Landlords in Virginia can legally evict you during a blizzard, but in Maryland and DC, whether you can be evicted depends upon just how cold it is. Cold weather evictions in Washington, DC In the District of Columbia, the U.S. [ . . . ]

What is a Notice of Intent to Accelerate?

November 8, 2018 Brian V. Lee

Almost every mortgage contains the requirement that your lender send a Notice of Intent to Accelerate before it can initiate foreclosure proceedings. What is a Notice of Intent to Accelerate? Sometimes called a Default Letter, the Notice of Intent to [ . . . ]

Top 7 Reasons People Declare Bankruptcy

July 24, 2018 Brian V. Lee

People don’t declare bankruptcy for the fun of it. Bankruptcy results from a financial hardship from which a person cannot recover within a reasonable amount of time. Lots of circumstances can lead to personal bankruptcy. Here are the top 7 [ . . . ]

What is Foreclosure Loss Mitigation?

June 29, 2018 Brian V. Lee

Foreclosure loss mitigation is the process that mortgage lenders use to work with homebuyers who are behind on their mortgages. You may be able to modify your mortgage, obtain approval of a short sale, or otherwise more efficiently surrender the [ . . . ]

What Is Mortgage Reinstatement?

February 22, 2018 Brian V. Lee

Mortgage reinstatement is your first and best loss mitigation option when facing foreclosure. Mortgage reinstatement means catching up your missed mortgage payments, along with all associated late fees and charges. To reinstate, you must pay the full amount due and owing [ . . . ]

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