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Are landlords required to return security deposits when tenant filed bankruptcy in Arizona?
Bankruptcy and renting have nothing to do with each other. Rent is NOT an extension of credit but rather the payment of a certain fee per week or month for the right to stay in the unit. A security deposit is retained by the landlord in case the tenant damages the unit beyond normal wear and tear. If the tenant returns the unit in the same shape he received the unit, minus normal wear and tear, and the tenant doesn't breach any of the terms and conditions of the lease, then the landlord must return the deposit within a certain time period dictated by state law. The filing of bankruptcy generally takes no part in this matter.
What else can I help you with?
Do landlords have to provide interest statements on security deposits?
Many states require this, but many states don't.
Can a landlord keep a security deposit for damages rent and water even if the tenant files for bankruptcy?
Most likely. A security depsit is something that every state allows landlords to collect. The purpose of security deposits is to assure that a tenant pays rent on time and keeps the property in good condition. Half of the states place limitations on how much a security deposit can be. In addition, there are usually limitations on how a security deposit can be used by a landlord. Rent and water damages are the type fo thing that a security deposit is supposed to cover. You should look into how much damage there was as you may still be owed some money back. But the fact that you filed bankruptcy does not necessarily entitle you to your security deposit. It may be better to think of it as money already spent than a refund you are supposed to get back.
How do you get phone service after declaring bankruptcy?
You should have no problems getting any type of utility in your name. Just call and sign up. Be prepared for security deposits though. (Which is not because of the bankruptcy) The easiest thing to do is get pay as you go or prepaid phone service. Often times you can do this with both cell phones and with VOIP phone service. Then you can have the service without paying huge deposits.
Will I lose my retirement accounts or payments from social security if I file for bankruptcy?
Generally, no. Retirement accounts that are ERISA-qualified aren't considered property of an estate and cannot be taken. Social Security benefits are generally protected from assignment, or garnishment for debts in bankruptcy. The Social Security Administration's responsibility for protecting benefits against legal process and assignment usually ends when the beneficiary is paid. Once paid, the benefits continue to be protected only as long as they can be identified as Social Security benefits. For example, money in a bank account where the "only" deposits into the account are direct deposits of Social Security benefits are "identifiable" and generally protected.
Which type of deposit is paid in advance to protect landlords against nonpayments?
security deposit
What is retention money or security money?
When you rent an apartment, landlords usually ask for a security deposit equal to a month's rent. Renters can potentially cause all sorts of problems for landlords, they can damage the property that they rent, they can refuse to pay their rent, etc. This way landlords have at least some ability to penalize a tenant who causes these kinds of problems, by refusing to return the security deposit (in part or in full).
Do most landlords do background checks these days?
Yes most landlords do include background checks. This includes screening such as a social security validation, credit check, and criminal history.
is a security deposit as an asset or a liability?
Security deposits from customers side is a liability for business.
Is security deposit paid in advance to protect landlords against nonpayment?
Yes it is because it is, lol.
Can you get an apt in a community if you have a bankruptcy?
If you have a steady job, are not delinquent on any new debt and you prove your income, you may be approved but you can also not be approved, You may be required to put down more security
Are security deposits supposed to be in a bank account when giving to the landlord?
The specific requirements for security deposits vary by jurisdiction, so it's important to check the laws in your location. However, in general, security deposits are often required to be held in a separate bank account by the landlord or a property management company. This is to ensure that the deposit is protected and can be returned to the tenant when they move out, minus any deductions for damages or unpaid rent.
Do Colorado security deposits have to earn interest?
yes, but it depends.
