My Tenant Filed Bankruptcy. What Are My Rights As Landlord?
The filing of a bankruptcy case effectuates an automatic stay, at which time creditors may take NO actions to collect their debts against debtors. This includes all rent payments, whether the payments are current or not. At Bieber & Czechowski, we are a full-service law firm that helps landlords and other creditors recover debts.
As a landlord, you have certain rights under the Bankruptcy Code. For example, if a residential tenant files a Chapter 7 bankruptcy in the middle of an eviction proceeding, you may ask the court for relief from the automatic stay to continue the eviction, rather than waiting for discharge. That’s where we can help.
Chapters 11 And 13
There is money in bankruptcy. Chapters 11 and 13 involve debtors who seek to reorganize their debts and pay them back in whole or in part over a longer period of time. This could include catching up on past-due rent/lease payments or even an old claim for past-due rents. There is money in bankruptcy, but only if you assert your rights. Missing a deadline can be fatal to you receiving payment on your claim. Don’t let that happen to you.