Child support arrears are considered priority debts and will not be eligible for discharge through bankruptcy. Still, you have options.
It is essential to consider the impact on your overall financial stability and credit should your banruptcy be canceled.
Though it can feel like an overwhelming process, there are some ways to ensure that financial recovery after bankruptcy goes as planned.
Bankruptcy is an excellent option for many people struggling to make ends meet, but it is also a complex and detailed process that must be navigated carefully.
In 2022, there were nearly 375,000 personal bankruptcies filed by normal, everyday people just trying to get back on track.
Chapter 20 - which is not an actual Chapter by law - provides an opportunity to eliminate more debt than Chapter 7 or Chapter 13 alone.
Chapter 7 (liquidation bankruptcy) and Chapter 13 (reorganization bankruptcy) are considered the most common for individuals and small businesses - how is eligibility determined?
How would your life look if you were finally out from under your crippling debt obligation? It's time to find out.
If you are eligible for Chapter 7 bankruptcy and you pass your means test, debt should be eligible for discharge. But if you don't pass, you have other debt-relief options.
Although a bankruptcy filing is officially a public record, very few people will accessit - especially if they are unaware of the filing.