All Forum Posts by: Ekaterina S.

@John Brodeur That makes sense, thank you for the insight

Thank you everyone for the responses! 

The trust funds were "compromised" according to Keeyana Garrett. Basically, money was stolen from the accounts by the second owner of the company (based on the documents from court that I was able to review online). According to the debtor's estimation of available funds, there will be no available funds. 

As per the letter from court, the creditors can not take action to collect debts while there is an automatic stay in effect against most collection activities — it's hard to undesrtand the legal language, but I think it means I can't do anything as of now.

Talking to attorney would be great, of course, but I feel that their fees will be much more than my loss from that one property. I made my peace with taking the loss, I just don't know how to handle the deposit situation. If tenat chose to go to small claims court (deposit is $950), with me living in a different state, that would be too much trouble.

While thinking about this situation, I thought of offering the tenant to use that deposit money for the last month payment. This is the best idea I have about how to handle this.  

So my property management company filed for bankruptcy (Enhanced Property LLC, managed by Keeyana Garrett, there was a post from several landlords, who had properties with them). I had one property with them and they had a tenant's deposit (besides several months of rent and a reserve). I purchased this property from the person/company who also managed it. They transferred the deposit to the Enhanced Property LLC, which after a year of managing my property went under. So I never had that deposit, and now it's gone.

Am I legally responsible to give the tenant their deposit from my pocket when the time comes, or can I show them the bankruptcy papers that Enhanced Property/court sent me?

Will greatly appreciate your advice!

@Sanjay Fernandes

Hi, I sent you a message.

Thank you