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Lease

Hello.

My question is very simple. A business venture I began is failing. If it fails and I am forced to declare personal bankruptcy, can the remainder of the lease be included as a debt, since the balance of it will become due if I vacate the premise or begin missing payments. Thank you for you help.

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One Response to “Lease”

Barton Goth GCO Bankruptcy Trustees said...

This depends on how the business has been set up, whether you are continuing to operate the business and if you have personally guaranteed the lease.

You are best to contact a local trustee and they will be able to advise you what to expect.