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Ray, Lawyer
Category: Bankruptcy Law
Satisfied Customers: 42235
Experience:  30 years in civil, probate, real estate, elder law
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He owes far more than the small claims $5000 in back rent. I

Customer Question

He owes far more than the small claims $5000 in back rent. I have a signed lease.
Would I be eligible for some settlement after they sell the remaining assets if they have any value? Do I have to do anything to secure my place in the settlement like a formal request for the back rent owed?
Submitted: 9 months ago.
Category: Bankruptcy Law
Expert:  Ray replied 9 months ago.

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

Customer: replied 9 months ago.
Expert:  Ray replied 9 months ago.

Here make sure you are listed on their creditor list in bankruptcy. As a secured creditor with a lease you may get something but it may be pennies on the dollar.But just make sure your name address, phone, email appear on the creditor list in the bankruptcy so you will be notified of creditor meeting.You can attend and find out what they are going to have in terms of assets to divide among secured creditors. it is a good idea to attend if you are able when you get notice if the meeting by the trustee.

I appreciate the chance to help you today.Thanks again and good luck

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