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Latest Bankruptcy News
The debate over student loan debt continues to be a hot topic in Washington. While some favor the idea of continuing to keep interest rates low, even this action provides minimal relief for graduates who are drowning in their education debts.
It is estimated that two-thirds of all college graduates will complete their degrees with close to $20,000 or more in student loan debt. Couple that with a sluggish job market and many graduates simply cannot afford to repay their loans. The rate of default over student loan debts has hit all time highs, leaving many pushing for the government to intervene.
One idea to help alleviate the pressure in the student loan industry is to allow for some of these debts to qualify for bankruptcy, as they had in the past. Prior to the change in bankruptcy laws in 2005, some student loan debts were eligible for a bankruptcy discharge.
While Washington has yet to make any serious moves in the student loan industry, many graduates are holding out hope that they may find relief from the 20+ year prison sentence of loan repayment.
What Clients Are Saying
From the moment I was taken back into the office, the staff made me feel like they were really listening to everything I had to say. They waited until I was completely done explaining everything and then presented the best options for my case. They gave their professional opinion and did not take it upon themselves to make the decision for me or to even push one option over another.
I was given the opportunity to ask any questions OR to go home and think about my decision. Being a single mom with two children I have found myself many times being taken advantage of and "people" persuading me into a decision that was good for them, not necessarily good for me. Everyone gave me a sense of confidence and I was treated like an individual with respect. Already being in a "not so great situation", they really relieved a lot of that stress that was literally killing me slowly.
Words cannot describe how much I appreciate everything that the staff at Lee Law Firm has helped me with.
B. Dieguez
Vol. 2, Issue 7.
July 2012
Note From The CEO
   The Lee Law Firm is unique in many ways, one of which is through our commitment to clients even after their bankruptcy case has been completed.
   Our After Care Program follows clients after their debt discharge and helps them start fresh by assisting in rebuilding their credit and continuing to mediate interactions with creditors.
   Through the After Care Program, clients will find that our personalized and compassionate services stand by them to the end. It is our commitment to ensure that all clients are served to the highest standard as they take a new financial path.
C. Lee
What's New With Us!
As you know, The Lee Law Firm wears many hats and offer clients services in the areas of bankruptcy, debt negotiation, tax debt relief and foreclosure assistance. As part of our overall mission to rid our clients of debt and the stress that is associated, we also vow to protect all of our clients from abusive creditors.
The bankruptcy process implements an automatic stay order to prevent creditors from collecting on debts when a debtor is in bankruptcy. However, it doesn’t guarantee that creditors who violate these rules will face consequences, which is why we can pursue legal actions against them. Our goal is to stop abusive and harassing creditors!
We offer this service to our clients as part of their bankruptcy package. If we win your case, you don’t pay any extra for this valuable service, but you do gain the peace of mind needed while working to resolve your debts. If you are experiencing trouble with creditors, contact us today to find out how we can help stop those collection calls and free you from the stress of dealing with creditors.
Money Management Tips
A safety net. A nest egg. An emergency fund. A savings account goes by many names, but not everyone uses them in the correct way. While having a savings account is a must for all of us, you don’t have to have just one. In fact, you should have at least two different savings accounts, if not more.
Why would you need more than one savings account? Your general savings account should be just that, savings. In other words, the money in this account should be for things like your retirement or basic financial coverage in the event of a financial hardship.
If you are wanting to save money to buy a car, or have for a down payment on a house, these funds should go into a separate account. The reason is that tracking your savings for a special purchase is much easier in a separate account. Separating the accounts also keeps you from spending the money you have earmarked in the event you need to dip into your savings.
One thing that most people fail to do is to allocate a special savings account for their mortgage. Having a separate savings for your mortgage can ensure you have money saved up only for the purposes of paying your mortgage in the event of a financial hardship. Hopefully you will never need it, which means you can take the money in this account and pay off your mortgage early.
Multiple savings means more money set aside for the future and better protection in the event of financial hardship.
Fun Facts
This year, the month of July marks the beginning of the 2012 Summer Olympic Games.
This years’ Olympic Games will be held in London, England . It is expected that 10,500 athletes will be competing in this year’s events across one of 26 sports; ranging from Gymnastics and Swimming to Archery and Fencing.
The United States will be represented in 25 of the 26 total sports, boasting more female than male athletes.
As one of the most highly anticipated events of the summer, the 2012 Olympic Games are expected to draw a crowd of nearly 300,000 people and over 3 billion television viewers.
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Questions or comments? Visit us online at or call 817-616-1150