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Is a Landlord Considered a Creditor?

landlord consider as creditor

Your landlord may be a creditor if you file bankruptcy.

The bankruptcy law defines a “creditor” as someone to whom you actually or allegedly owe money. Typically, anyone with whom you have an outstanding balance or open account — credit card companies, banks, student loans or taxing authorities — falls within this category.

Landlords become your creditors if you have past-due rent. As you might expect, missed rent payments can result in eviction and a judgment against you. Should a landlord get a money judgment, a bankruptcy may not stop you from losing your apartment or rental unit.

Henrico VA debt defense attorneys help debtors stop collection efforts and obtain discharges of debt. In most cases, filing bankruptcy automatically stops legal actions and debt collection against you. However, a landlord who gets a judgment before the tenant files bankruptcy is not prohibited by the bankruptcy stay from continuing with eviction unless you have paid all past-due rent, court costs, attorney fees and other parts of the money judgment no later than two days before the scheduled time for the eviction. A debt law firm in Henrico can present to the bankruptcy court evidence that you have redeemed the rental.

Contacting us at Canfield Wells LLP before an eviction proceeding can help you get additional time to catch up on past-due rent or find another place to live. If you file a bankruptcy before the landlord obtains a judgment, then the automatic stay will halt the eviction process — at least temporarily. As a debt law firm in Henrico, we defend efforts by landlords to get relief from the stay. Bankruptcy judges may be receptive to such requests since keeping a lease in effect may have little value to the trustee handling your bankruptcy estate. In response, you might qualify for Virginia‚Äôs Eviction Diversion Program if you rent in the Richmond area.

At Canfield Wells LLP, our bankruptcy representation includes preparing the petition and required schedules to present your debts, income, assets and other financial information. Tell our Henrico VA debt defense attorneys if your behind on rent or what the landlord has or may be doing to have you evicted.

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