Sometimes finances get quite literally out of hand: a job loss, a divorce, personal medical issues or those of family member. Any one of these things can upend a family’s finances to the point where normal recovery just isn’t an option. The last six years have been difficult for many, and things are only just being to look better. A Chapter 7 bankruptcy is a chance to reset and start into the improving market with a clean slate. During the first meeting, I often have clients tell me they have no idea what to expect.
Tips for a successful first Chapter 7 Bankruptcy meeting:
Finally, some people step into my office feeling ashamed of the position they are in. Don’t be, even if you feel you’ve made mistakes. Bankruptcy is your legal right, and by exercising it, you are taking the first step toward regaining control of your finances.
Do you prefer a month-to-month or a term lease or a residential tenancy? Each has its pluses and minuses. The month-to-month enables landlords to use their most powerful tool to get rid of a bad tenant, the 30-day or 60-day no-cause termination. The term lease offers at least the perception of stability and probably does encourage good tenants to stay. On the other hand, the bad tenant is still going to disappear in the middle of the night, or worse, the landlord might get stuck with them and have to rely on a fact intensive termination for cause. As a lawyer who primarily represents landlords, I generally prefer month-to-month, but that’s because I deal with bad tenants on a regular basis. While a thorough background check really is a necessity for any potential tenant, make sure to take extra care with anyone you plan to give a lease term.