Nationwide, bankruptcy filings are at an all-time high and Colorado ranks at the very top for the number of filings. For our management and property owner clients, this means that they are seeing more and more bankruptcies being filed by residents. It used to be that the Firm would get a few calls every month or so from clients whose residents filed bankruptcy. Now, we are getting a substantial number of calls every month where residents are filing for bankruptcy. 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 resident, which can take up to 4 months while the resident 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 4 weeks.

This is just another example of the complete legal package of services that the Firm provides for our clients. THS files cases in Bankruptcy court every month and we really know the ins-and-outs of the system. Often we are able to negotiate a quick settlement with the resident’s attorney to have the resident move out quicker than it would take in 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 resident 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.