Legal Question in Landlord & Tenant Law in Colorado

Rent Past Due and Bankruptcy

We had some tenants that fell 3 months behind in rent. We kicked them out and gave them 5 months to pay us what they owed (in the 3K range). We got it in writing signed by all parties. Now that date is past due. They do not have any of the money and said if we go get a judgement against them, they will declare bankruptcy. Or they will pay us $50 per 2 weeks for the next X years. I doubt they will keep up with that since they haven't been able to pay anything so far. So do I take the chance on the $50 or take them to court, get the judgement, and possibly lose the money if they declare bankruptcy.


Asked on 6/06/05, 1:32 pm

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: Rent Past Due and Bankruptcy

I would want to look at their rental application. You have a business reason to do another credit check. You need to determine, with assistance of counsel perhaps, a cost/benefit ratio with an eye to whether they are just blowing smoke.

I have 25 years experience as a landlord and commercial collections attorney.

Let me know if you wish some assistance.

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Answered on 6/06/05, 3:22 pm


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