Photo by Jan Antonin Kolar on Unsplash. The ongoing federal eviction moratorium is a helpful but limited tool. There are issues about how to qualify and its conditions and limitations. Our last three weekly blog posts have been about the new Agency Order temporarily stopping many residential evictions. This Order by the Centers for Disease Control and Prevention (“CDC”) went … Read More
Chapter 7 bankruptcy gives you serious advantages for getting out of a residential lease–advantages in money, time, and peace of mind.
In a Chapter 7 “straight bankruptcy” you can usually “assume” your lease agreement. But you have to get current fast and keep current.
An unexpired lease or executory contract gets special treatment in bankruptcy. You’ll likely get the option of “assuming” or rejecting it.