It's a safe deal since the tenant can't file bankruptcy again within the next 7 years.

I just did a background check on a prospective tenant to rent an office space and found that he has filed for bankruptcy in march 2012. What should I do?

2 Answers
Votes: 
6 votes
+
Vote up!
-
Vote down!

A renter can file for bankruptcy and if approved, the landlord is probably going to get nothing! But as this person has recently filed, he will only be able to file again after 7-10 years. 

Votes: 
3 votes
+
Vote up!
-
Vote down!

Technically, it’d have zero consequence as he couldn't file again within the next 7 years. So he cannot discharge anything he may incur from you. So it, in a way, a safer deal.


Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

BBB-A--Rating