i was served 3 day notice at business i was leasing unable to keep up with lease payments due to business excessively slow what the consequences i will suffer?
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Read More Answered By: George Shers |
If you do not pay the rent you will be evicted from the premises and have to move all of your items out. There wil be a negative report to the credit bureaus that you have been sued and then that a judgment was entered against you, which will decrease your credit score and make it more difficult to borrow money and to get it at a lower interest rate. Go to the owner of the building and be very honest with him as to your financial state; see if you can work something out as in this economy he may end up stuck with an empty store. At least you can prevent a suit against you and arrange for a more convenient date to leave and move your assets out. |
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