Expert: Terry Leeders - 5/4/2009

Question
My husband and I are renting and need to file chapter 7. We owe our landlord 3 months rent. How will this effect our landlord? Will he be able to wright the amount we owe him off on his taxes or does he loose that money?

Answer
If you are breaking the lease, you can list that amount in the case and discharge that debt. Bankruptcy will not stop an eviction, just discharges the amount owed.  He can possibly write the loss off on his taxes, he'll need to talk to his accountant about that.