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Top Three Reasons to File Bankruptcy
Bankruptcy is not appropriate for every situation, and the primary concern of a bankruptcy lawyer is to explore all of the options to determine whether bankruptcy or some other option is the best choice for you. No one intentionally chooses financial hardship. But how you face your adversity impacts your outcome. Here are the Top Three Reasons to File Bankruptcy.
Bankruptcy Solves Problems
Bankruptcy often results after a life-altering event: unemployment, illness, family hardship, divorce. These times in our lives are extremely stressful. Bankruptcy could help you to extricate yourself from otherwise intractable circumstances.
Whether you’re facing foreclosure, paying an unaffordable garnishment, getting sued by creditors, or just seeking to improve your credit profile, bankruptcy solves many different types of problems. This is the top reason that people file bankruptcy. The automatic stay and the bankruptcy discharge are powerful legal tools that solve problems.
Bankruptcy Reduces Stress
Calls and correspondence from debt collectors can develop into a major problem. Creditors will call you at home and at work. And with the recent rise of skip-tracing, they will also call your family, friends, neighbors, and colleagues. Creditors generally relentlessly pursue payment despite specific financial hardship or circumstance.
Filing bankruptcy puts an immediate stop to creditor calls and correspondence, no excuses, no muss, no fuss. If a creditor contacts you while you are in bankruptcy, then that creditor has violated an order of the court. We will sue that creditor for damages and attorneys fees.
Taking a proactive approach to solving your financial problems will be a big relief. From the moment you file bankruptcy, your creditors must cease all attempts to collect on debts. All repossession, garnishment, and foreclosure efforts must cease immediately. All lawsuits are halted, or stayed. The very act of filing bankruptcy can relieve you from an enormous amount of stress.
Bankruptcy Gives you a Fresh Start
Some debts, like student loans and child support, cannot be eliminated by a Chapter 7. Some people make too much money to qualify for a Chapter 7 bankruptcy and must instead file a Chapter 13 and submit a repayment plan. Whatever form of bankruptcy you file, the fundamental goal is to restructure your finances and to free you from debt. Filing bankruptcy can be a difficult decision, but the benefits often outweigh any potential downside.
If you are considering filing bankruptcy in Washington, D.C. or Maryland or Virginia, call Lee Legal at (202) 448-5136 to schedule a free consultation.
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Brian Lee from Lee Legal was an amazing attorney to work with. He took his time, reviewed my documents and we discussed my situation thoroughly. He explained the process and my options as well as gave his recommendation. Not only did he assist, but he ensured that I knew this...
I was very nervous and scared about going through this process. But Brian was very knowledgeable and helped me through it. I was notified about any and all updates to my case and he was very responsive when I had questions regarding any concerns I had. Although a bit nerve...
Brian provided me with a very detailed analysis about my potential case after our first consultation. He promptly responded to all my complex questions, especially navigating student loans and some tax discussions. He is very professional and experienced at what he does, I would...
I've had the pleasure of working alongside Brian V. Lee for several years, and I can say without hesitation that he is one of the most knowledgeable bankruptcy attorneys in the DMV area. Brian's command of Chapter 7, 11, and 13 practice is exceptional, and his clients in the DC...
Brian has the amazing talent of taking complicated legal matters and distilling them down to seamless, frictionless resolutions. He is a phenomenal problem solver and a trusted advisor.
Brian is both warm and professional. He helped me navigate a financial issue that I had not been looking forward to working on and he made the entire experience non-stressful, receiving a lot of anxiety I had around the matter. He is straight forward and a fantastic problem...
I had the opportunity to work with Brian at a time when I was challenged by a professional setback and forced with the challenge of making some very difficult legal decisions. Additionally, I worked with him again as I was dealing with some financial issues pertaining to my...
Still several years from Public Service Student Loan Forgiveness and saddled with significant student loan payments in proportion to my income, I came to Lee Legal to explore the bankruptcy path. Through his counsel, Brian took the fear out of the process and helped me to...
