Tenant Filed Chapter 13 Bankruptcy
I received a letter today. An SFR tenant filed chapter 13 Bankruptcy. I cannot cover my mortgage without their rent. I'm trying to understand the letter I received. I'm just getting started to figure out next steps. Any advice will be appreciated. Please point me to any BP info, YouTube, etc. I cannot imagine I'm the first to get hit with something like this.
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- Real Estate Consultant
- Summerlin, NV
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#1 All Forums Contributor
- Real Estate Consultant
- Summerlin, NV
they don't have to pay rent but you can evict them ( I think) .. the BK court can also ask you to return up to 6 months of rent they just paid or some amount like that.. thats what happened to me.
they stop paying plus i had to send the BK trustee some amount of rent.. .not sure if it was 6 months but it was over 4k I remember that.
its a cautionary tale here that you should never be in a position where you cant pay your mortgage if you dont get rent. And maybe what you mean is you will have to pay it out of savings .
- Jay Hinrichs
- Podcast Guest on Show #222
