This letter to Congress was updated on January 3, 2019.
Most people have rented a place to live. The relationship with the landlord or management company typically extends beyond one month, sometimes for many years or decades. With good credit, it’s usually easy to enter into a residential rental or lease agreement, with both parties typically signing an agreement to rent the residence for a set term or month-to-month.
One of my favorite questions I like to ask lawyers is “Why do people file for Bankruptcy?”
The most common answer I get is because they owe money, or they have a lot of debt.
But that is wrong. The truth of the matter is very different.