0031 - Debt Related Queston: Bankruptcy Question # 0031

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QUESTION #0031:

I got a divorce last year, and my income decreased. Since then I have been having trouble paying the bills. My ex-wife ended up with the house, furniture, and kids. I am out of savings, and now Iím being drained by child support. Is there anyway to avoid paying child support until my finances stabilize? Will going bankrupt allow me to stop making payments?



ANSWER:

Child support and Alimony are not affected by a bankruptcy. However, a settlement offer (proposal) or a bankruptcy could relieve the other debts, therefore allowing your income to service the support payments plus your living expenses. A change in life status generally requires changes in budgeting and lifestyle. A trustee can assist with exploring options to manage your debts, and with budgeting, to go forward successfully.