What Can a Court Do if You Break a Lease With No Income?
Individuals who break a lease typically do so because they don't have income or money to remain current. However, losing income doesn't warrant breaking a lease, and tenants remain liable for rent payments. A landlord can file a suit to receive help from the local courts.
Lease Agreements
The majority of people who sign lease agreements intend to fulfill the contractual agreement and stay in the unit until the lease expires. Sudden job loss can significantly decrease a tenant's income, and if there's not enough cash flow, tenants may decide to walk away from the lease early. Unfortunately, lease agreements are legally binding, and unless a landlord incorporates a hardship clause in the agreement, tenants cannot leave simply because they lose their income.
Court Case
The purpose of a lawsuit for a broken lease is to encourage payments from an old tenant. Threats of a lawsuit may prompt a payment to avoid a legal proceeding. When a tenant fails to make the necessary payment, a court will hear the case from both party's points of view and then make a ruling. The court will likely side with the landlord if he can present the signed lease agreement, wherein the guilty tenant must pay off the remaining lease balance.
Incapable of Payment
Tenants without income will obviously have difficulty paying off the lease balance as ordered by the court. The courtroom judge makes the ruling, but it is the responsibility of the tenant to forward funds to the landlord. Breaking a lease and not having sufficient income to satisfy the debt will trigger a credit report judgment. Judgments on reports notify anyone reviewing the report that the debtor owes a debt to another party. This item reduces FICO scores and stays on reports for seven years--even if a debtor pays off the judgment at a later date.
Considerations
You can't undo a judgment once a court reports the damage on your credit report. However, once you find another job and you're earning a steady living again, contact your old landlord to remedy the balance. Make payment arrangements or negotiate a settlement to pay less than you owe to satisfy the judgment order. Having a paid judgment on your report is less damaging than an unpaid judgment.
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