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Updated about 10 years ago on . Most recent reply

User Stats

579
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177
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Eric Black
  • Rental Property Investor
  • Where we are parked
177
Votes |
579
Posts

Does BK discharge promissory note?

Eric Black
  • Rental Property Investor
  • Where we are parked
Posted

We had two rental properties with a management company in Texas. We found out, after they closed their doors, that they were closing. They owed us security deposits and rent totaling over $5,000. We got a promissory note from the owner in her name, not the business name for the full amount. 

Her company has now filed for bankruptcy and we are getting notices that if we have debt owed we need to go to Texas for the meeting of the creditors.

Is this true? Will the bankruptcy of her business discharge the promissory note we have from her?

Thanks!

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