Wednesday, August 10, 2011

When filing bankruptcy do you need you need to notify your landlord if you're not behind on rent and won't be?

I am a bankruptcy attorney in Dallas, Texas. When you file bankruptcy and have executory contracts, such as an apartment lease, you must list it in your bankruptcy. You have a choice whether or not to ume the contract. You can continue paying and stay in the lease, or you can decide to move out with no penalty. Executive Contracts are listed on Schedule G and also on your Statement of Intentions. Because it is listed as an executory contract, you must notify your lender. That is why you have to notify them under number 3 above.

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