When you fail to pay your child support obligations over a prolonged period of time, the accumulated debt that this presents can feel overwhelming. This is often why many parents stop making an effort to repay the owed child support. However, giving up in this way can lead to serious legal consequences.
Many people also wonder if filing for bankruptcy can help them wipe away the child support they owe. While bankruptcy will never have the power to wipe the slate clean regarding owed child support, it may be able to help you tackle unpaid child support indirectly.
How could Chapter 7 bankruptcy help me?
If you are eligible for Chapter 7 bankruptcy, you will probably be able to get a discharge from the majority of your other debts. This means that you will get relief from any bank loans or credit card debts that are a financial burden. As a result, you will have an increased disposable income to focus on paying your child support obligations.
How could Chapter 13 bankruptcy help me?
Chapter 13 bankruptcy will help you reorganize your private debts so that you have a more realistic opportunity to pay them back over time. In creating a repayment plan, your cash flow will become more manageable, and you will have a better chance of catching up with your child support obligations.
Filing for bankruptcy can give debtors a second chance, enabling them to fulfill the responsibilities that they previously ignored. If you are interested in the possible benefits of bankruptcy, you should make sure that you understand the law.