Articles Posted in Bankruptcy

Lee Legal offers Saturday office hours for bankruptcy client consultations. We know you’re busy. It can be tough to take time off work. If you prefer weekend appointments, we can accommodate you. Flexible office hours for busy clients Our Saturday office hours are between 9AM and 3PM in the Washington, D.C. office, located a block…

Today, the average student in the United States graduates with $29,400 in student loan debt. High youth unemployment may make it very difficult for many of these students to repay their student loans. As a result, young people struggle with monthly payments they cannot make. Many wonder: Will bankruptcy get rid of student loans I…

If you are living paycheck-to-paycheck, you are not alone. Last week the Brookings Institution released a new article by Princeton and NYU economists entitled The Wealthy Hand-to-Mouth. Some of the article’s findings were startling: The last of these findings is what is so surprising. The wealthy hand-to-mouth tended to be older, better educated, make more money.…

Most people seeking bankruptcy protection are naturally concerned about their assets. Getting rid of your debt is great, but not necessarily if you lose your home, your car, your tax refunds, bank accounts, or other possessions. Protecting assets in bankruptcy is the main reason to hire a bankruptcy lawyer. Protecting assets in bankruptcy in Washington DC,…

Many people find it difficult to take the first step when facing debts they can’t pay. There is nothing wrong with being confused or uncertain. Dealing with collections calls and bills you cannot pay is a hassle. However, you can act to protect yourself so you don’t accidentally end up making your financial situation worse.…

Chapter 7 is a quick and easy way of discharging your debt. But Chapter 7 doesn’t solve secured creditor problems and is unavailable to higher income debtors. You will want to use a Chapter 13 bankruptcy to restructure your debt if Chapter 7 won’t work for you. If you’re considering filing Chapter 13 Bankruptcy in…

So how much does bankruptcy cost? When you seek bankruptcy protection under chapter 7 in Washington, DC, you are obviously in debt trouble. Not only that, but chapter 7 is also means tested, which means that you must have low-income by definition. Unfortunately, despite the fact that you are already facing serious financial problems, there…

If your business has significant debt, bankruptcy may be the solution. Businesses can file for bankruptcy protection under both Chapter 7 and Chapter 11 of the Bankruptcy Code. Both provide effective but very different protections from creditors. In some cases, business bankruptcy can involve the personal assets in a Chapter 7 liquidation. You may want…

Parents and grandparents want to do everything possible to have younger family members succeed in life. In many cases, this means helping them financially. Sometimes, however, you can get yourself into personal financial trouble by cosigning for kids on loans. The risks associated with cosigning can be high. So be sure that you have a…

Filing bankruptcy gives you immediate relief from debt. But not every person who files for bankruptcy qualifies for Chapter 7 liquidation. In many cases, you make too much income to file a Chapter 7 bankruptcy. Under those circumstances, you should consider filing a Chapter 13 bankruptcy. In a Chapter 13 you wind up needing to pay back…