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Effective November 1, 2018 new Chapter 7 means test numbers take effect. Year-over-year means test numbers for household incomes in the D.C. area increased between 3 percent and 21 percent across the board. When the means test numbers increase, more people qualify for Chapter 7 bankruptcy.ç What is the Chapter 7 means test? Chapter 7…

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…

In most cases, you can settle a debt if you get sued. But you must go about it in the right way. You may have legitimate defenses, in which case you should strenuously exert them. If you do not dispute that you owe the debt, however, then you should attempt to settle the debt. Debt…

How long does bankruptcy take? That depends on whether you file a Chapter 7, Chapter 13, or Chapter 11. Chapter 7 bankruptcy How long your Chapter 7 bankruptcy will take depends upon whether you have assets to distribute. Most Chapter 7 cases are completed quite quickly. But if you have unexempt assets, your Chapter 7…

Individual states should impose foreclosure deadlines on mortgage lenders. Forcing lenders to foreclose within specific timelines would solve several problems facing individual homeowners as well as entire neighborhoods. States must individually legislate changes to foreclosure procedures because foreclosures are governed by state law. Federal law can impose reforms, but states must implement them. The most…

Last week, On Deck Capital continued its onslaught of lawsuits in Arlington General District Court. On Deck Capital provides loans to small businesses. Its loan agreements contain “choice of venue” clauses providing for litigation in Arlington GDC. On Deck Capital also requires small business owners to personally guarantee its loans. So when On Deck sues a…

Facing foreclosure on your home can be one of life’s biggest challenges. You have options if you want to save your home, but sometimes allowing the foreclosure to take place is your best option. If you have to let go of your home, here’s how to recover from foreclosure. Settle in and settle down Lots…

Putting off a bankruptcy consultation when it could do you world of good makes no sense. Take the time to get the full picture and figure out where you stand. Lee Legal offers a free personal financial analysis to every new client. Don’t be afraid to call. We don’t bite and we don’t judge. Don’t…

When planning a future for your loved ones, you do not want your legacy to include a mountain of debt. Many people are unaware that their debts can continue to haunt those they leave behind. Whoever you select to manage your estate will serve as the “executor,” and that person is responsible for probate, the…

People don’t declare bankruptcy for the fun of it. Bankruptcy results from a financial hardship from which a person cannot recover within a reasonable amount of time. Lots of circumstances can lead to personal bankruptcy. Here are the top 7 reasons people declare bankruptcy. Job loss Unemployment benefits simply do not cover living expenses. Losing…