Can I file bankruptcy on a rent to own home? 16 Answers as of December 27, 2013

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Joseph Lehn, Esq
Joseph Lehn, Esq | Lehn Law, PA
Yes you can. You can list the creditor on your petition to discharge the debt and release you from the contract.
Answer Applies to: Florida
Replied: 12/27/2013
Rhymer Law Firm
Rhymer Law Firm | William Rhymer
Usually yes. However.
Answer Applies to: Georgia
Replied: 12/20/2013
Stuart P Gelberg
Stuart P Gelberg | Stuart P Gelberg
Yes but what are you trying to accomplish with the bankruptcy?
Answer Applies to: New York
Replied: 12/13/2013
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, no reason. why not?
Answer Applies to: California
Replied: 12/13/2013
Graves Law Firm
Graves Law Firm | Steve Graves
Sure. I think it goes without saying, but I'll say anyway, that what you can't do is wipe out the debt and keep the home. Good luck.
Answer Applies to: Texas
Replied: 12/10/2013
    You can file a bankruptcy to remove delinquent rental payments on the home you live in, but you will probably have to give up the contract you have to apply your rental payments towards the purchase of the home. Which type of bankruptcy you file (Chpt. 7 or Chpt. 13) depends on other factors, such as your income, your assets, and whether you have filed a bankruptcy in the past. You should consult a bankruptcy attorney in your area.
    Answer Applies to: Washington
    Replied: 12/10/2013
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    Not sure exactly what your question is, however, if you want to file bankruptcy to allow you to get out of the agreement you have on this home, you would be able to discharge this obligation. A "rent to own" agreement is basically a secured debt. If you do not follow through with the agreement the owner of the home takes the house back or in some situations you can continue to rent the house.
    Answer Applies to: California
    Replied: 12/10/2013
    Garner Law Office
    Garner Law Office | Daniel Garner
    Yes. The debt will be classified by the wording in your contract. It may be construed as a mortgage or a lease. Either way, your intentions must be declared within 30 days of your case filing, whether you want to continue to honor the contract or walk away from it. The trustee has the power to assume or avoid a lease. If the trustee is not interested in it, the landlord/creditor may condition the continuation of the contract upon curing any arrearages or other reasonable conditions. If you do not agree to those conditions, you can be evicted.
    Answer Applies to: Oregon
    Replied: 12/10/2013
    Deborah F Bowinski, Attorney & Counselor at Law | Debby Bowinski
    If you are asking whether you can surrender the home and get out of the rent to own contract through bankruptcy, the answer is yes. You would remain obligated to pay rent for any days you remained in the property after the bankruptcy is filed so you might want to wait until after you move out.
    Answer Applies to: Colorado
    Replied: 12/10/2013
    Elkington Law
    Elkington Law | Sally Elkington
    Without looking at your contract on your lease to buy and without knowing if you are trying to stay and just need to catch up on your payments, this is a difficult question to answer. If you want to break the contract and discharge the back rent due, you can do that during a bankruptcy, either 7 or 13. If you want to try to stay and catch up, you might be able to do such through a chapter 13. I say might because I would need to review your contract first. Contact a good bankruptcy attorney for a consult before proceeding.
    Answer Applies to: California
    Replied: 12/10/2013
    Goldsmith & Guymon
    Goldsmith & Guymon | Marjorie Guymon
    Yes you can.
    Answer Applies to: Nevada
    Replied: 12/10/2013
    OlsenDaines | Rex Daines
    Yes. A contract for the purchase of a home whether it is a lease with an option to purchase, or a contract for the purchase of the home is a contract that can be eliminated in a bankruptcy.
    Answer Applies to: Oregon
    Replied: 12/10/2013
    Musilli Brennan Associates PLLC
    Musilli Brennan Associates PLLC | John F Brennan
    Generally yes, but you will be losing the "equity" you may have built up as a result of the contract. See an attorney to determine if bankruptcy is you best, or presently necessary, alternative. It is a major step and not to be use lightly.
    Answer Applies to: Michigan
    Replied: 12/10/2013
    Moore Taylor Law Firm, P.A.
    Moore Taylor Law Firm, P.A. | Jane Downey
    Yes you can. Consult an attorney because there are factors you will need to show to continue keeping the home in the future.
    Answer Applies to: South Carolina
    Replied: 12/10/2013
    The Law Office of Darren Aronow, PC
    The Law Office of Darren Aronow, PC | Darren Aronow
    You would be able to get rid of the arrears as it is a rental, but I don't think they will sell to you and they will probably look to evict you after the bankruptcy
    Answer Applies to: New York
    Replied: 12/10/2013
    Moffa & Bonacquisti, P.A.
    Moffa & Bonacquisti, P.A. | John A. Moffa
    When someone files a bankruptcy case all assets and ALL DEBTS MUST be listed. No one can file a bankruptcy case for only "selected" debts.
    Answer Applies to: Florida
    Replied: 12/10/2013
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