Ok Bankruptcy Law and Child Support

Ok bankruptcy law and child support

OK Bankruptcy Law and Child Support is¬†clear. You will never be able to forgive past child support by filing a bankruptcy. This also applies to any child support you’ll owe going forward.

Cant Forgive Child Support in Bankruptcy

The decision on what debts are forgiven in bankruptcy is done by the legislature. Not only does the legislature decide which debts are forgiven they also decide the priority of each debt. This means that certain priority debts are paid if at all before non priority debts. Child support is a first priority debt and is never forgiven in bankruptcy.

Child Support is a Priority Debt

Debt in bankruptcy is divided into priorities. Depending on the priority of aOk bankruptcy law and child support debt is how it get pays. First priority debt gets paid before second or third priority debt. In chapter 7 bankruptcy not only is back child support a priority debt its also never forgiven.

In a chapter 13 bankruptcy, past child support is also a priority debt. Once again this means that its must be paid. But in a chapter 13 bankruptcy priority of debt really matters. The reason it matters more is that in chapter 13 you’re paying back certain unsecured debts. The amount you pay back depends on your plan payment which is determined by your disposable income. Because child support is a priority debt more money goes to it before it goes to your unsecured non-priority debt. This priority debt will reduce the percentage you pay back to unsecured non-priority creditors throughout your repayment period.

Contact a Bankruptcy Attorney Near You

If you’ve got questions regarding OK Bankruptcy Law and Child Support call our Oklahoma attorneys. We’ve been helping people and businesses get through financial problem throughout Oklahoma for nearly twenty years. It doesn’t matter if its a chapter 13 or a chapter 7 bankruptcy we can get you through it as painlessly as possible.

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