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ttymanagement

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Posts: 1
Reply with quote  #1 

My tenants are saying they are going to file bankruptcy.  How does that affect me.  They have filed chapter 7 within the past 8 years, so it looks like they are only going to be able to file a chapter 13.  Does anyone know what that will look like for us.  These are very bad tenants.  Unfortunately I did not do enough detective work before deciding to rent to them.  They have defaulted on many leases.  At least 5 other landlords were granted monetary judgements against them.

newbie9000

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Posts: 40
Reply with quote  #2 
Search through old posts... here's one that may be usful:
http://absoluteca.websitetoolbox.com/post/Eviction-and-bankruptcy-5659150?highlight=bankruptcy
The_RRD

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Posts: 58
Reply with quote  #3 

The Rent Rite Directory offers a free Rental History database to Property Managers and Owners that allows members to input as well as search evictions (before they hit public record), tenants who skip out on rent/collections, proxy renters (those who rent on behalf of unauthorized tenants ie: drug dealers, sex offenders, convicted felons), those who commit lease violations, property damage, and on-property crime. http://www.therrd.com Please help share information with other Real Estate Professionals. 

Cozzmo

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Reply with quote  #4 
Is there a way to get The_RRD to stop posting irrelevant spam?

I am not an expert, but
Chapter 13 generally creates a payment plan of 3-5 years, if you miss a payment, you lose protection from creditors. (forgives unsecured debt).
So if they haven't been paying and have run up a debt, then you will probably miss out.
They are expected to stay current on rent however and you can still evict for any rent that is owed after a judgment.
For home loans, There is a certain grace period during and after a bankruptcy for a few months when the bank cannot forclose or evict, but I don't think that applies to renters.
 I suspect that if they have a bankruptcy payment plan, then you cannot evict for the rent liability that is included in that plan as it was devised by the courts for thier protection.

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Cozzmo
Charmed

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Reply with quote  #5 
No, there's not.  About 80% of the postings on this forum are spam.  Anyone and everyone can post spam.
pixelrogue

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Reply with quote  #6 
Is there a spam bot that can scan and get rid of posts such as those by "The_RRD"?
Charmed

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Reply with quote  #7 
This forum needs a good moderator.
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