My business was sold but the Credit Card's Machine's Lease will be expired at 2015.

Asked about 1 year ago - Kissimmee, FL

The amount remain approximately $1,800.00 and they agreed to go down $1,500.00 if I would make one time payment. Is there any room for me to negotiate with them or break the Lease because I sold my business. Thanks

Attorney answers (3)

  1. Jaiseery Arjoonsingh Jr.

    Contributor Level 4


    Lawyer agrees

    Answered . You should discuss this matter with an attorney who handles debt resolution and bankruptcy issues. You should know that lease inside and out in order to determine what liabilities you are exposed to if you do break the lease. My office number is (954) 353-4356 if you have any additional questions.

  2. Rochelle N Belnap

    Contributor Level 10


    Lawyers agree


    Answered . Before you agree to a settlement, you may want to consult with an attorney in your area. An attorney will be able to review your lease agreement to determine whether there is any personal liability for the lease. If you are personally liable this means that you are financially responsible even if your business is unable to pay, but if you are not, then it may change your settlement outcome.
    I hope this helps!

    NOTE: This Answer does not constitute legal advice. Every case is fact specific. To render a legal opinion, an... more
  3. Robert J Adams Jr.


    Contributor Level 20


    Lawyer agrees

    Answered . I assume the lease was in your name. Selling the business will affect the terms of the lease. If you break the lease they can pursue you for the balance. You can always seek to negotiate.

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If you are unable to pay your debts, you may have an option of debt negotiation. Negotiating is less harmful to your credit rating than bankruptcy.

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