 Tenant files bankruptcy (by George [VA]) May 10, 2009 4:29 PM
 Tenant files bankruptcy (by Terry [CA]) May 10, 2009 4:31 PM
Tenant files bankruptcy (by James [MA]) May 10, 2009 5:19 PM
Tenant files bankruptcy (by George [VA]) May 10, 2009 6:12 PM
Tenant files bankruptcy (by Wallace CPM [VA]) May 11, 2009 5:10 AM
Tenant files bankruptcy (by Mike45 [NV]) May 11, 2009 3:57 PM
Tenant files bankruptcy (by George [VA]) Posted on: May 10, 2009 4:29 PM
Message:
State Specific Question About: VIRGINIA (VA)
We have a prospect who said he will be filing bankruptcy after he moves in to a residential unit. We feel that if he pays 2 months in advance then the risk would be mitigated.
Is a tenant protected from eviction if he files bankruptcy?
Or can we do the normal "5 day notice" and file with court 17 days later etc? --198.23.x.xx |
Tenant files bankruptcy (by Terry [CA]) Posted on: May 10, 2009 4:31 PM
Message:
You should NOT rent to this person! They can get an automatic stay of eviction if filed after they have filed bankruptcy. Then you have to pay a good attorney to get the stay lifted in Federal BR court and then any money due to you will likely be wiped out. Two months of rent does nothing to mitigate any of this. DO NOT RENT TO THEM! --207.200.xxx.x |
Tenant files bankruptcy (by James [MA]) Posted on: May 10, 2009 5:19 PM
Message:
Two months in advance! The trustee can demand all payments going back 6 months before the filing. --70.22.xxx.xx |
Tenant files bankruptcy (by George [VA]) Posted on: May 10, 2009 6:12 PM
Message:
Thanks for good info.! --198.23.x.xx |
Tenant files bankruptcy (by Wallace CPM [VA]) Posted on: May 11, 2009 5:10 AM
Message:
Ditto Terry * take the BIG S off your forehead... --205.188.xxx.xx |
Tenant files bankruptcy (by Mike45 [NV]) Posted on: May 11, 2009 3:57 PM
Message:
James, the trustee can recover far more than six months. But here, the LL is giving the Debtor fair value in exchange (rent in exchange for the premises), so the rent would not be recoverable.
Only the pre-BK-filing rent would be discharged in BK. If there is nothing owed, there would be nothing lost. and on-going rent, post-filing, is a priority obligation that must be paid.
All that being said, I would not rent to someone about to file BK.
--216.175.xx.xx |
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