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

When you file for bankruptcy in Washington, you must disclose any unexpired leases or contracts you may have. These contracts must be identified and listed in your bankruptcy filing. Unexpired contracts can include leases for real estate, vehicles, and furniture; as well as employment contracts, cell phone contracts, and other similar contracts. When it comes to real estate leases, you can either surrender the property back to the landlord, or continue to pay for the lease throughout the bankruptcy process. However, if your bankruptcy is successful, the real estate lease may be eliminated. When it comes to other contracts, like vehicle leases and employment contracts, you will have to make arrangements with the other party. You may be able to negotiate for lower payments or a lump sum payment in exchange for terminating the lease or contract. It is important to note that these contracts and leases must be disclosed to the bankruptcy court to avoid being charged with fraud. A failure to disclose these contracts could result in the debt not being discharged in the bankruptcy, or potential criminal fraud allegations. Overall, when filing for bankruptcy in Washington you must disclose any unexpired leases or contracts on your filing. Depending on the type of contract and the bankruptcy process, you may be able to negotiate a termination or lower payment. However, all contracts must be disclosed to the bankruptcy court.

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

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