chap13 question

Well, I have done a Chapter 7 so I can't tell you about the chapter 13. I do know that when you are going through a BK you don't have to pay rent (if you are a renter) until it is discharged. Have you done a search of the bankruptcy section on here?

Student loan payments are deferred until the end of your BK, but I believe interest still accrues on it.

I didn't realize that during the chapter 7 process you do not have to pay rent, why is that? If you aren't declaring bankrutpcy on your landlord why would you not pay your rent? Just wondering as my sister is getting ready to file for bankruptcy and did not want to tell her landlord about it as she is planning on staying in the house.

I don't know if it is true about not paying rent, but I do know that your landlord(creditor) can motion the courts to have the automatic stay lifted and evict you from his premises. I've never heard of not having to pay rent even though you are filing BK.

Another reason why I asked is we own two rental properties and I would like to know what would happen if one of our tenants was filing bankrutpcy and stopped paying their rent what happens then?

I didn't know that about rent either. When we did our bankruptcy, we still had to pay our rent at that time, so if that was so, we were never told about it.

YES. Student loans aren't repaid during the bankruptcy (5years) but you do not have to make payments to them. You are pretty much getting a 5 year deferrment/forebearance through them.

thanks meganmarie and all who responded