Basalt, CO Bankruptcy Law Firms & Lawyers

Who knows. Sounds like the bank's internal jargon for some bank policy. Remember bank policy and procedure is not law, and in fact may actually violate the law.

Many people can file for bankruptcy but the more important consideration is what the result of such filing potentially could be. For example will you be able to successfully discharge all or part of your debts if you choose to file and whether you will be required to liquidate non-exempt assets for the benefit of your creditors. Nothing you mentioned here prevents you from filing a bankruptcy case. However, you'll want to discuss the details of income, assets, debts, and living expenses with a bankruptcy attorney to determine if you qualify for chapter 7 discharge and whether your assets are exempted.

If you have a current lease with your landlord, this obligation to pay rent in the future should be listed on Schedule G of your bankruptcy petition & your landlord should be notified of your bankruptcy. If the lease has expired & is now month to month, you don't need to notify your landlord since you owe no rent.