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

When filing for bankruptcy in Nebraska, it is important to consider the status of any unexpired leases or contracts that may have been signed prior to the bankruptcy. If you plan to keep the lease or contract going, you will want to reaffirm it with the other party. This means that, rather than cancelling the lease or contract, you agree to pay the debt associated with it according to the terms of the agreement. In doing so, you will remain legally obligated to the other party for the remainder of the lease or contract. If you decide to not reaffirm the lease or contract, it may be cancelled. This will depend on the terms of the agreement or the other party’s acceptance of cancellation. You will need to contact them directly to determine this. If the lease or contract is cancelled, you should make sure to return any property that was used during the agreement. This includes any items that were leased, rather than purchased, such as vehicles or furniture. If you are unable to return the property, you may need to work out a payment plan with the other party. It is important to remember that bankruptcy does not automatically cancel any unexpired leases or contracts. Therefore, you must be proactive in dealing with them before or during filing for bankruptcy in Nebraska.

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

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