Skip to content
Tax, SDIRAs & Cost Segregation

User Stats

579
Posts
176
Votes
Eric Black
  • Rental Property Investor
  • Where we are parked
176
Votes |
579
Posts

Does BK discharge promissory note?

Eric Black
  • Rental Property Investor
  • Where we are parked
Posted Nov 18 2014, 17:21

We had two rental properties with a management company in Texas. We found out, after they closed their doors, that they were closing. They owed us security deposits and rent totaling over $5,000. We got a promissory note from the owner in her name, not the business name for the full amount. 

Her company has now filed for bankruptcy and we are getting notices that if we have debt owed we need to go to Texas for the meeting of the creditors.

Is this true? Will the bankruptcy of her business discharge the promissory note we have from her?

Thanks!

Loading replies...