Expert: Terry Leeders - 4/4/2009

Question
I am renting a house and I was just told that the owner (private owner) has filed chapter 7 bankruptcy. Does this throw me out? Do I have any options? What can I do?

Answer
Usually you are allowed to continue making the payments and live out your lease.  If you have gotten notice, you can contact the debtor's attorney to see what the intentions are for the property, as many keep the property and continue the leases.  If they are surrendering the property, you can call the trustee to see where your payments should go, or if you need to still make them.