Retain or Surrender Secured Debt in Bankruptcy?

Retain or Surrender: Deciding What to Do with Secured Debt in Bankruptcy -- LEE LEGAL -- DC VA MD Bankruptcy Lawyer

Secured debt in bankruptcy is treated differently than unsecured debt. In a Chapter 7 bankruptcy, loans securing property may exempt that property from liquidation. Chapter 13 bankruptcy, on the other hand, allows you to repay over time any defaulted amounts on secured loans. Often the most important question revolves around whether to retain or surrender […]

Setting Realistic Foreclosure Defense Objectives

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 a good foreclosure defense attorney will provide to you is helping you to set realistic […]

What Will Happen to My Timeshare in Bankruptcy?

What Will Happen to My Timeshare in Bankruptcy -- Lee Legal

I frequently have bankruptcy clients who own timeshares with Blue Green, Marriott, Starwood, Westgate, Wyndham, Hilton, Powhatan, Playa Linda, etc. These clients often want to know: What Will Happen to My Timeshare in Bankruptcy? Have you ever seen the movie The Queen of Versailles? If you own a timeshare, you should give it a look. The […]

What is the Statement of Intention?

What is the Statement of Intention?

When a homeowner files for Chapter 7 bankruptcy protection, the very first page of the bankruptcy filing that the mortgage company turns to is the Statement of Intention. The Statement of Intention (or Statement of Intent) discloses the debtor’s intention toward secured property, like cars and homes. In the Statement of Intention, the debtor states […]