If you are a landlord, it’s likely that you will experience a tenant who files for bankruptcy at some point. Here at Tschetter Sulzer, we receive calls from landlords with a tenant bankruptcy on a weekly basis. Because a bankruptcy filing results in an automatic stay against creditors, including landlords, the filing brings an eviction action to an immediate halt. Short of waiting out the bankruptcy before evicting the tenant, which can take up to four months while the tenant lives in the property without paying rent, the only recourse the landlord has is to file specific paperwork with the bankruptcy court to obtain permission to proceed with the eviction. The process usually takes about six weeks.
This is just another example of the complete legal package of services that the Firm provides for our clients. TS files cases in Bankruptcy court every month and we really know the ins and outs of the system. We are often able to negotiate a quick settlement with the tenant’s attorney to have the tenant move out quicker than it would take going through the process. But if a settlement is not reached, we have the legal expertise to work through the Bankruptcy court and get the tenant out.
Our attorneys can assist you with bankruptcy lease issues and guide you through every step of this sometimes-daunting process. Our clients rely on our expert guidance to help them navigate the challenging waters of the bankruptcy court system. THS attorneys use proven legal know-how to handle bankruptcy issues. We also assist secured creditors with their legal needs.