I received notice of this development within two months of my moving in. This week I got a note from Con Ed stating that LL was overdue on his payments and that the electricity may be turned off in the common areas of the building. I've still been looking for a roommate, but do not now feel that I can in good faith bring someone into this situation - but cannot afford to keep living here on my own.
The best option seems to be to use the last month's rent and secuity for the next two months and find another place.
What happens if I do this? Do I have any protection under this circumstances because of the bankruptcy?