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Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I recently was let go from my job, and I had just signed a

Customer Question

I recently was let go from my job, and I had just signed a lease. Is there any loop hole in a lease that will allow me to get out of the lease? If I break the lease, right now I would have to pay back the signing bonues of 2,500, plus the 200 a month they reduced the rent that made it affordable to live here, plus I have to give two months notice and then pay another two months rent on top of that. So it would end up costing me more than I have in my name, to be able to break this lease. My brother mentioned filing bankruptcy and just walking away from the lease, but I have good credit and am nervous about doing that. I dont know what the best option is. I havent found anyone to sublet yet and need to find away out of this lease without paying all of the fees which would put me in debt.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

unfortunately, you would be subject to damages for the early termination of your lease but not necessarily the full balance of the payments.

Here is why.

The landlord has a duty to mitigate his damages resulting from early termination of a lease. This means that the landlord must use reasonable efforts to relet the property. In the event he is not able to relet the property, you will remain liable for the total amount of the lease payments. In the event the landlord is able to mitigate his damages and relet the property, you will be liable only for any shortfall between the new tenants lease and your lease.

I hope that I have fully answered your question and the answer was helpful to you.