I had a 6 year business that failed. We had just moved to a new office two years ago that was a build out. The former landlord has sued me for the build out costs and the rest of the lease which amounts to $250k.
I did not know this that happened until recently. I am about to get married, and I am trying to protect a new contractor job I am supposed to start next year as well.
As this amount is the only debt I have from 1 creditor outside of student loans, I am trying to settle this debt myself. The collection agency has stated they will not settle- but do you think if I was to send them a letter with a offer to cover the rent until he got a new tenant up to 1 year of rent (it was a 5 year lease and we had only been there 2 years) I could have a chance? or would that open them up to trying to get the full amount..
Also-would you recommend to contact the old landlord or do I have to put the offer to the collection agency he is using?
I just hate to file bankruptcy over a lease vs actual credit debt etc…Please help I am DESPERATE to get a plan on this…250k in Debt, from 1 Creditor. Desperately Seeking Advice by Consumer