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 [ . . . ]

How to Prevent Vehicle Repossession

June 12, 2018 Brian V. Lee

If you fall behind on car payments, you run the risk of repossession. Some lenders are quicker than others to repossess, but most wait until the third month of non-payment. There are several methods to prevent vehicle repossession. Your lender [ . . . ]

Foreclosure Non-Retention Options

October 26, 2017 Brian V. Lee

If you have a property in foreclosure, your mortgage lender will likely send you all sorts of correspondence. You may have modification or reinstatement options, which is great if you want to retain the property. But for a variety of [ . . . ]

When It’s Time to Give Up Your Home to Foreclosure

June 12, 2017 Brian V. Lee

Washington, D.C. homeowners facing foreclosure should very carefully examine their options, including voluntary surrender.  Three conditions primarily determine when it’s time to give up your home to foreclosure. Affordability. If you can’t make your monthly mortgage payment anymore, remaining in your [ . . . ]

What Will Happen to My Timeshare in Bankruptcy?

October 13, 2013 Brian V. Lee

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 [ . . . ]

Bankruptcy Could Save Your Home

July 9, 2013 Brian V. Lee

If you are coping with foreclosure, bankruptcy could save your home. While bankruptcy might not just make your mortgage go away, if you want to keep your home, bankruptcy gives you options. Whether or not you’re facing foreclosure, bankruptcy could [ . . . ]

What is the Statement of Intention?

May 8, 2010 Brian V. Lee

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 [ . . . ]