walk away lease

[ksh2964]

i have a restaurant but bussiness no good and the rent increasing a lot , i talk to landlard to terminate lease with penatley because i have no money to pay bill,landlard no ok with that what should i do ? i already sale my personal asset no money? do i need to fill bankrupt to jump out the hole?help

 

[army judge]

i have a restaurant but bussiness no good and the rent increasing a lot , i talk to landlard to terminate lease with penatley because i have no money to pay bill,landlard no ok with that what should i do ? i already sale my personal asset no money? do i need to fill bankrupt to jump out the hole?help

If the business isn't incorporated or a partnership, a personal bankruptcy would allow you to walk away from all debts with no further legal encumbrances.

I suggest you speak with a local bankruptcy attorney and discuss your financial situation thoroughly with him before you decide.

If your landlord fails to negotiate a buyout of your leasehold, he stands to lose everything.

Your landlord is a fool for not trying to negotiate a buyout of your leasehold with you.

I wish you well, my friend.