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assume a defaulted lease in Chapter 13 and how to pay arrearages
Listmates,
I have pc who has a retail store and is behind 5 months on rent payments. He wants to assume the lease in chapter 13 plan as this is the only income source for his family. In order to assume the defaulted lease, one of the requirement is to promptly cure the default. How soon does the debtor needs to cure?...can I propose it 36 mo plan? My pc does not have money to cure in lump sum.
Teri Lim, Esq.
Law Offices of Miyun Teri Lim
3701 Wilshire Blvd. Ste. 1025
Los Angeles, CA 90010
(213)389-3557(Office)
(323) 927-3623 (Fax)
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