Articles Posted in Bankruptcy

Select the best bankruptcy lawyer for you. Make a personal connection, communicate, and ask questions. If you have a problem and want to tell someone about it, then you will probably want to tell a friend. Friends listen, and although they may not always understand, they always try. That’s why they’re you’re friends. We all…

New Chapter 13 bankruptcy Plans took effect nationwide on December 1, 2017. Trustees, creditors and debtors alike are grappling with the new Plans, which are the result of extensive revision by nationally-recognized leaders in bankruptcy practice. What is a Chapter 13 Plan? When you file a Chapter 13 bankruptcy, you are doing so for one…

Don’t send good money after bad. Have you heard the phrase? It means spending even more money on an investment with the hope of recouping your original investment. Most of our clients feel their credit card purchases to be investments. From clothing and food and appliances to rental cars and educational expenses, most people use plastic…

All security clearance levels are subject to periodic reinvestigation. Confidential clearances require renewal every 15 years, Secret requires every 10 years, and Top Secret requires reinvestigation every 5 years. Bankruptcy will definitely affect your initial security clearance review and, in some cases, can present a hurdle. But if you already have a security clearance and…

Owning a home comes with a lot of responsibility. But the toughest part of owning a home may be realizing that you you can’t afford your mortgage anymore. Lots of different circumstances can lead to an unaffordable mortgage payment. But you have options if you take a proactive approach. 9 Options When You Can’t Afford…

New Chapter 7 means test numbers take effect November 1, 2017. The means test numbers purport to state the median income per family size based on jurisdiction. To file a Chapter 7 bankruptcy, you must qualify under the Chapter 7 bankruptcy means test. In most cases, your income must be less than or equal to the…

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 reasons, the bank or servicer may not be willing to entertain modification or refinance. In…

Currently working its way through House of Representatives committees is H.R. 2366, the Discharge Student Loans in Bankruptcy Act of 2017. It’s always good to hope, but forget about discharging student loans in bankruptcy in the near future. On October 20, 2017, as the D.C. Chair of the National Association of Consumer Bankruptcy Attorneys, I…

Protecting assets in bankruptcy requires a combination of foresight and expertise. Chapter 13 bankruptcy generally allows you to keep all your property. But in Chapter 7 bankruptcy, your nonexempt assets may be “liquidated,” or seized and sold. If you do not protect your assets in Chapter 7, the trustee will convert them to cash and…

If you have a medical problem, seek advice from a doctor. If you have an architectural problem, seek advice from an engineer. But if you have a financial problem, you should seek the advice of an attorney. Lee Legal can diagnose your financial condition. Every client receives a free consultation. Debt Collection. If you have…