I find it curious how someone who filed bankruptcy himself makes people feel guilty if they have gotten themselves into a difficult.  

Texas bankruptcy is very lenient when it comes to homesteads and property.

Plenty of other circumstances where this might be needed....bankruptcy sales, tax valuation suits, probate disputes, sales in business breakups, Treasury department sales.Hope that makes sense.   

That plan has never ended in bankruptcy/foreclosure for anyone ever...

FINANCIAL/CREDIT HISTORY1.No outstanding debt to previous rental property owners.2.No outstanding debt to utility companies.3.No outstanding debt in excess of $1000 that is not in a payment plan.4.No excessive monthly financial obligations - more than 20% of income.5.Lack of credit history or marginal credit history may result in additional security deposit. 6.Derogatory credit (past due accounts, collections, charge off accounts, tax liens, judgements in excess of $1000 and/or bankruptcy) may result in additional security deposit or denial.LEGAL/CRIMINAL HISTORY1.Criminal offenses of a violent nature against either person or property will result in denial.2.Applicants with a non-violent criminal misdemeanor that occurred more than two years ago or a non-violent criminal felony that occurred more than five years ago may be considered if restitution for their crime was made in full and all time was served.Also, we may require an additional security deposit and demonstration of good employment history, credit history, and rental history since the time of the crime.Multiple offenses may result in denial regardless of what the employment, credit and rental history shows.

Once out, they will file bankruptcy, and your claim goes away.

Situations might include estate settlements, divorce, partnership disolutions, pre-foreclosures, bankruptcy, or any business downturns.

You might even go so far as an officer of the LLC to “personally guarantee” the loan, which makes a difference if bankruptcy ever got triggered. 

And you can check to see if they are in bankruptcy proceedings:http://www.pacer.gov/That's off the top of my head and from my phone ...

They went through a bankruptcy and thought that would wipe them out but later learned that judgements survive bankruptcy.