Breaking lease because of no money

by jonathan
(Buffalo Grove,IL US)

I'm a college student and I signed a 12 month lease last year. the problem is that I found out after I signed the lease that I'm only going to be at school for the first semester not the second. I also don't have any money. I have $1200 in my bank account but I have $5000 dollars on my credit card which I just keep paying the mimimum bc I cant afford any more than that. My dad was taken to court a few years ago and he's supposed to pay 75% of my college tuition. He still owes me plenty of money and that's another reason why I can't afford the rent dude for 6 months I'm not going to be there at $330 a month. I have a job at school even to but it's just not enough Is there anyway being financially in trouble that I can get out of a lease with no punishment? Thanks

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Jan 07, 2012
Breaking lease because of no money
by: Debtcollectionanswers.com

A lease is a legally-binding contract, so you are obligated to meet all of its terms. This means that if you just just move out, you are still legally obligated to continue paying your monthly rent until your lease is up or until the landlord finds a new tenant for your apartment and the landlord is entitled to sue you for your unpaid rent in the meantime. If you remain in your apartment and fall behind on your rent, the landlord has a legal right to evict you and to sue you for breaking the lease.

If I were you, I would talk with your landlord about your situation. The landlord may be willing to work with you. For example, the landlord may agree to release you from your contract in exchange for you forfeiting your deposit and maybe paying a penalty too. This would be a lot better for you than being evicted and/or being sued and having that information in your credit file, which would be very damaging.

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