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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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on a commerical lease60 days late ..received a 3 day rent or

Customer Question

on a commerical lease60 days late ..received a 3 day rent or quit notice. today is the third dayI have the cash flow in the business to pay just got over my head moving in trying to catch up. I am 32,844 (3 months and attorney fee) behind and i am trying to get a personal loan from someone for the amount. is chapter 11 a viable option for me (we are a church on a 7 year lease?)
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.

WebLaw :

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

WebLaw :

It appears possible to file a chapter 11 bankruptcy to pay the lease arrearage over the next 3 to 5 years. The Chapter 11 bankruptcy must be filed prior to the court issuing an order for possession in order to be effective

WebLaw :

I hope that it helps to know this information

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