What do I do with any unexpired leases or contracts when filing for bankruptcy?

If you are filing for bankruptcy in Delaware, it is important to understand that any unexpired leases or contracts you have will be affected. When filing for bankruptcy, these agreements become part of your bankruptcy estate and you must address them as part of the filing process. The first step you should take is to contact the creditors for any unexpired leases or contracts you have. You should inform them that you are filing for bankruptcy. Depending on the type of agreement you have in place, your creditor may allow you to continue the agreement under certain terms. If this option is available, you should adhere to those terms as outlined by the creditor. If you are unable to continue the agreement with the creditor, you will have to surrender the premises or property associated with the contract back to the creditor. Depending on the type of agreement in place, you may be liable for certain fees even if you are no longer able to fulfill the terms of the agreement. No matter what option you choose for your unexpired leases or contracts, you should be sure to include them in your bankruptcy filing. Doing so will help ensure that you are following the proper steps when filing for bankruptcy in Delaware.

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What do I do with any unexpired leases or contracts when filing for bankruptcy?

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