Bankruptcy Law Firm Melbourne, FL
Our bankruptcy law firm Melbourne, FL residents turn to share that when two people with children are no longer in a relationship, they will need to form agreements pertaining to child support and custody. Child support plays an essential role in ensuring that the needs of a child are met. Our lawyers at Arcadier, Biggie & Wood, PLLC, our bankruptcy law firm Melbourne, Florida relies on is prepared to help guide you through the process. Child support assists the parent with physical custody in providing for things like:
- Extra-Curricular Activities
If you have not been receiving child support, it can be especially challenging to care for your children on your own. If your child’s parent is unable to make payments due to financial challenges and ultimately files for bankruptcy, it’s important to contact a lawyer as soon as possible. Chances are, you are wondering what you should do next and how best to move forward.
Child Support Obligations
Our bankruptcy law firm Melbourne, FL residents are in need of share that you may be concerned over how bankruptcy may impact the child support payments your child is entitled to. It’s important to be aware that despite a bankruptcy filing, the obligation to pay child support should not be impacted. A debtor is still required to make their child support payments. If your child’s parent is struggling to make child support payments, bankruptcy may actually be a way of settling debts so that they are able to continue to make their payments in a timely manner. If you are not already receiving the child support that has been ordered, you may consider speaking with our bankruptcy law firm Melbourne, FL can count on to take legal action against them.
Child Support is One of the First Debts Settled
While bankruptcy can certainly help a person to either reorganize their debts or provide them with a clean slate, some debts are exempt from this. Child support is one debt that is not dischargeable when someone files for bankruptcy. Meaning, that child support arrears are not wiped clean. Your child’s parent will still need to settle what they owe you. Child support is considered a priority debt meaning, it will likely be the first debt settled during bankruptcy proceedings. Our bankruptcy law firm Melbourne, FL recommends provides you with more information regarding how child support is settled based on the bankruptcy filing:
Chapter 13: This form of bankruptcy involves a repayment plan in order to settle all debts over the course of 3-5 years. Within the reorganization that is provided, child support arrears must be included. This can provide those in debt with the possibility of discharging some debts while prioritizing child support. In order to receive a bankruptcy discharge under Chapter 13, the debtor must be current on all child support payments.
Chapter 7: Under this form of bankruptcy, all assets are gathered and liquidated to pay off creditors. Our bankruptcy law firm Melbourne, FL residents seek assistance from want you to know that the debtor does have the ability to retain some of their assets under exemptions. When a creditor owes back child support, they are still required to pay this debt. Child support is considered a non-exempt debt, meaning, it cannot be discharged in bankruptcy proceedings. Any child support debt will often be paid first when debts are settled. Any child support arrears that are not covered by a debtor’s assets are still owed to the creditor regardless.
When pursuing child support payments and back child support, it’s best to consult with a lawyer at Arcadier, Biggie & Wood, PLLC for help in navigating this complex process. In some cases, separate legal action may be required with the assistance of a lawyer. Contact a bankruptcy lawyer Melbourne, FL relies on as soon as possible for help.