Posts Tagged ‘attorney’

Washington, DC Officials Combat Foreclosures

Nov 11, 2010 • No Comments • Foreclosure

On October 27, 2010, Washington D.C. Attorney General Peter Nickles issued a Statement of Enforcement prohibiting the commencement of any foreclosure against a D.C. homeowner unless the security interest of the current noteholder is properly supported by public filings with the District’s Recorder of Deeds.  

Fighting Foreclosure in D.C.D.C. is a non-judicial jurisdiction in which foreclosure begins with a Notice of Foreclosure posted or mailed according to the form prescribed by the Recorder of Deeds.  The form requires identification of a “Holder of the Note” and a “Security Instrument” recorded in the land records of the District of Columbia.  The attorney general’s enforcement statement invites homeowners to inform the Office of the Attorney General if foreclosures “continue to be commenced or pursued with deceptive foreclosure sale notices” so that the Office may consider bringing enforcement actions to stop foreclosure proceedings and seek restitution for consumers.  In other words, if you believe that you are being foreclosed upon by a party other than the properly recorded mortgage holder, then you should call the attorney general’s office at (202) 442-9828.

The D.C. Council has also taken action.  This week the Council passed the “Saving D.C. Homes from Foreclosure Act of 2010,” an emergency bill requiring mortgage lenders to enter a 90-day mediation before foreclosing on a home.  The bill requires lenders to send homeowners a form to opt in or out of mediation along with the notice of foreclosure.  Homeowners then have 30 days to return the form.  If borrowers choose to enter mediation, they will have an additional 90 days to hammer out a new deal.  Previously, homeowners had just 30 days to agree on options other than foreclosure with lenders.  Click to read the entire Saving D.C. Homes from Foreclosure Act.

One out of every 971 homes in the District were in the process of foreclosure in October, and that number was expected to continue to rise over the next few months.  The recent actions taken by the attorney general and the D.C. Council are attempts to assist homeowners in the District facing foreclosure.  If you are facing foreclosure in D.C. then call Lee Legal at (202) 448-5136 to learn your options.

Tags: , , , , , , ,

No Comments »

Discuss Bankruptcy With Your Family

Aug 26, 2010 • No Comments • Bankruptcy

Families can face strain when a member of the family faces bankruptcy.  Financial problems often lead to damaged relationships and sometimes even divorce.  You should include in your consideration of whether to file for bankruptcy the effect it will have upon spouse, your family and your loved ones.

Discussing your options with your family and friends may provide you with essential advice and support to assist you in making difficult decisions.  Including those whom you trust in your decisionmaking may also make the choice to file for bankruptcy easier for those close to you who might otherwise oppose your decision.  Informing your family, and seeking their feedback, at each step of the bankruptcy process, can be a huge relief from the stress that accompanies bankruptcy. 

Keep these guidelines in mind:

  • Share everything.  Be prepared to share the facts surrounding bankruptcy, including how it will affect your assets and future finances.
  • Answer questions.  Be open to your family’s questions about the bankruptcy process and allow them offer their opinions on the option.
  • Ask your lawyer.  You don’t know everything.  No one does.  If a family member asks you a question that you don’t know the answer to, ask your lawyer.
  • Blood is thicker than money.  If finances are jeopardizing the important relationships in your life, it may be time to seek the assistance of a professional counselor to help you work through issues with your loved ones.

Gaining the support of your family can often be the most important decision you make once you decide to file for bankruptcy protection.  If you are considering bankruptcy and live in the Washington, D.C. area, call Lee Legal at (202) 448-5136 to schedule a free consultation.

Tags: , , , , ,

No Comments »

Another Disclaimer

May 14, 2010 • No Comments • Bankruptcy

Lee Legal assumes legal liability for neither the timeliness nor the accuracy of the information provided in this blog. 

If you live in Virginia and are considering filing bankruptcy in Virginia, then you should consult a bankruptcy lawyer in Virginia. 

If you live in Washington, D.C. and are considering filing bankruptcy in D.C., then consult a D.C. bankruptcy lawyer. 

Visiting this blog does not create an attorney-client relationship.  The information provided in this blog is intended solely to assist you in your decision to file bankruptcy.  Consult a bankruptcy attorney if you are ready to seriously consider bankruptcy as an option.

Tags: , , ,

No Comments »

Documents Required to File Bankruptcy

May 13, 2010 • No Comments • Bankruptcy

If you are considering filing bankruptcy, you will need to gather together several documents that will assist your attorney in drafting your bankruptcy petition and schedules.  You will sign your bankruptcy filing under penalty of perjury, and your attorney is required to make reasonable inquiry into all of the information contained in the filing.  I am a bankruptcy lawyer in Washington, D.C., and I require the following documents in all of my cases where applicable.  These documents will assist me in making full disclosure of your debts and assets, as required by the Bankruptcy Code.

  1. State and federal income tax returns for the last three (3) years;
  2. Six (6) months’ proof of income from all sources;
  3. Current credit report;
  4. Any previous bankruptcy filings;
  5. Certification of completion of credit counseling;
  6. Copies of the latest creditor statement for each creditor;
  7. Loan documents and/or contracts securing creditors’ interest in collateral, including car loans;
  8. Divorce settlements, separation agreements, or child support orders;
  9. Six (6) months of bank statements for all checking/savings accounts;
  10. Deeds, closing documents and mortgage statements for any real estate, including timeshares;
  11. Copies of your driver’s license (or photo ID) and social security card;
  12. Leases, and correspondence or documents relating to eviction;
  13. Documentation of all pensions, IRAs, 401(k)s, and any other retirement accounts;
  14. Policy documents for any cash-value life insurance policies;
  15. Documents relating to any potential or pending personal injury claims or other litigation; and
  16. Documentation supporting any out-of-the-ordinary expenses.

While this list may seem daunting at first, not every item will be applicable to your situation.  Any bankruptcy lawyer in D.C. or Virginia will require these documents prior to filing your bankruptcy.  You should always try to provide copies, not the originals, of these documents to your attorney.  Additional documents may be required, depending upon your particular financial circumstances.

Tags: , ,

No Comments »

Easing the Stress of Bankruptcy

Apr 27, 2010 • No Comments • Bankruptcy

If you find yourself in an impossible financial situation and can’t see any way out, bankruptcy may be a good solution for you.  Bankruptcy can help you reduce or even eliminate your debts.  Bankruptcy also provides potent protection against creditor collection efforts and harassment.  While bankruptcy can help ease your mind financially, however, it can also cause stresses of its own.  Below we will explore some techniques to prepare you for getting through the bankruptcy process with your sanity intact.

UNDERSTAND THE PROCESS

An experience bankruptcy lawyer in D.C. should thoroughly explain to you the basic process and timeline of your bankruptcy.  A Chapter 13 bankruptcy will typically last three to five years, while a Chapter 7 bankruptcy will typically be completely administered in just three to four months.  You should remember that the effects of bankruptcy will not be with you forever.  Over time, you will not feel the effects of the bankruptcy at all.  Within the first year, you’ll begin getting credit card offers and be able to obtain car financing.  After another year, depending on your circumstances, you may even qualify for a home loan.  The bankruptcy will remain on your credit report for up to 10 years, but the impact of the bankruptcy on your credit rating and score will begin to diminish immediately after your case is closed. 

TALK ABOUT IT

For many people the idea of declaring bankruptcy is embarrassing.  You should have a close friend or family member with whom you can candidly and confidentially discuss your financial situation.  Talking about your situation is very therapeutic and can help you to identify the problem areas in your life.  A person with a different perspective on your situation can help you decide how to solve the problems you are having, and how to accept and manage the things you can’t fix.  Through discussion, you can find ways to help minimize the impact of the bankruptcy on your life. 

THINK AHEAD

You should establish a clear plan for reestablishing good credit once you emerge from bankruptcy.  You attorney can help you fashion a strategy catered to your specific situation.  Your primary objectives should be to steadily rebuild your credit and your savings.  You will want to create a budget that is both realistic and geared toward your personal financial goals.  Being debt-free is a liberating feeling.  You should consider your bankruptcy a fresh start, and an opportunity to stabilize your long-term finances.

TAKE A BREAK

Once your bankruptcy case is closed, you should plan on resetting your mental state, too.  Although you might not be in a position to take an expensive vacation, you should treat yourself to a dinner out or a special night with your friends or family.  Make some time for some activity or pastime that you find enjoyable.  Bankruptcy will help ease your mind financially, but you may need to employ several of these techniques to help you ease the stress of the process itself.

Tags: , , , , , , ,

No Comments »