The stay of eviction put in place by the government is expiring. This gives your landlord back the right to evict anyone who owes rent.
Is there anything you can do to prevent an eviction? Did the moratorium cancel rent? Discover what you may expect as the relief from the government ends.
Paying back rent
When the federal government put a hold on evictions, it did so to help renters through a troubling economic time. Unfortunately, even though you could not face eviction, your rent continued to accrue. Thus, it is likely that in order to avoid eviction when the moratorium ends, you may have to bring your rental payment current. Unless you have money in reserves somewhere, you may not have the ability to do this.
Getting a clean slate
There are steps you can take now that may help not only stop the impending eviction but allow you the opportunity to get a clean slate. Bankruptcy allows you to get a reprieve from creditors, including your landlord. Unless you have assets socked away somewhere that you may liquidate, Chapter 13 may prove a viable option. This process allows you to pay monthly installments that the court-appointed trustee negotiates with creditors. The trustee creates this payment plan with your income in mind, so it is affordable. Once you fulfill the terms of the plan, which lasts no more than five years, the court discharges any remaining debt giving you a fresh financial start.
With the assistance of bankruptcy, you may not only remain in your home but get further financial relief. Before you rule out the action, you may want to look into it further.