Wage garnishment? Bank levy? Do I have to go to small claims court to establish this amount owed? I have a renter who owes back rent (being evicted), so do I just tell court the amount owed? If I loaned family member a small amount 2 years ago ($500), and they are very poor, I didn't ever expect to get it back, do I still list them? Thanks!
-
-
You must list everyone and everything.
As to the tenants that are being evicted.... if the property is mortgaged, then you most likely have an assignment of rents clause. The trustee should take your accounts receiveables and give them to the proper mortgage holder for all PRE-BK rents due. Any rents after the filing will either go to the trustee or the lender.
As to the $500.00 due from the broke family, it probably would not be worth the trustees time to go after it. The trustee normally looks for the low hanging, easy to pick fruit.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event....... -
Thanks Frogger for the info!Comment
Comment