Wednesday, January 28, 2009

Rent - past due and future amounts due

Subject: chicago bankruptcy attorney, law suit, future rent

Question: Hi Terry, Thank you for this service. I'll try to make my questions short. I owned a business, went out of business, and could not pay my rent on commercial lease. I signed lease as sole proprietor and was sued by landlord. I have been found guilty of breaching lease and ordered to pay past 9 months rent plus lawyer fees. The lease is for five years. The amount of time I was in business plus the 9 months out of business has been just 2 years and 5 months. I have already lost over 75,000.00 with the business and have no means at this point to come up with additional money owed. Now for 2 questions. Can I file bankruptcy and be discharged of this debt after going to court? If I can file bankruptcy, can the landlord come back and sue me again for the remaining months owed or can the bankruptcy absolve me from all relations with the landlord?

Answer: This debt can be included in a personal bankruptcy, and would discharge any past or future amounts that would be due, eliminating it completely. The landlord can not come back and sue you for rent.