 bankruptcy (by rw [VA]) Aug 25, 2009 6:27 PM
 bankruptcy (by Rose [CA]) Aug 25, 2009 6:32 PM
bankruptcy (by Alison [MO]) Aug 25, 2009 7:20 PM
bankruptcy (by Leigh [CA]) Aug 25, 2009 11:03 PM
bankruptcy (by rw [VA]) Posted on: Aug 25, 2009 6:27 PM
Message:
State Specific Question About: VIRGINIA (VA)
tenant filed chapter 13 bankruptcy-owes nothing at this time-has any one had experience with this type of bankruptcy--the bankruptcy automatically stays certain collection and other actions against the potential debtor --24.125.xxx.xxx |
bankruptcy (by Rose [CA]) Posted on: Aug 25, 2009 6:32 PM
Message:
I just rented my house to a couple that filed a Chapter 13 Bankruptcy. They filed it about 15 months ago and to keep their assets that have to pay so much money to the Trustee every month for 3 years. Some Ch 13's are set up for 5 years of payments.
They loss their house but some people file Ch 13 instead of Ch 7 because they have properties they want to keep.
--74.37.xx.xxx |
bankruptcy (by Alison [MO]) Posted on: Aug 25, 2009 7:20 PM
Message:
I have several Single Family Homes renting $1100 to $1300 per month. I have had 3 tennants over the past 3/4 years that I accepted after filing for bankruptcy. I was very nervous on accepting the first one. To my complete surprise all 3 have been the best tennants ever. Looked after the property, paid on time, or contacted me to state they had isssues - worked out a plan and stuck to it. I would accept these guys anytime now.
I think a key point is that they had down sized from larger homes due to foreclosure, and fully understood that I would evict immediately upon non payment. I also requested and attained 2 months Security Deposit.
Bottom line is that I think there are a lot of people out there who for whatever reason have run into difficult circumstances and are willing to learn from the situation. Not all of them, you ultimately have to use your gut instinct. --24.216.xx.xxx |
bankruptcy (by Leigh [CA]) Posted on: Aug 25, 2009 11:03 PM
Message:
Look at these people individually. Like Alison, we have had luck renting to investors who had to cut loose property including their homes from being upside down.
And we require two months deposit with BK. Amazing, some don't blink an eye. I think that many who do BK, put away allot in the mattress, knowing that they will have to go to a cash system to survive. --70.179.xx.xxx |
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