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Bankruptcy
: McLeod Law OfficesStorm Preparation: Chapter 13 and DSOs
By Bill McLeod, Esq.
When BAPCPA was enacted, a new concept in bankruptcy law emerged: ?domestic support obligations? or "DSOs". Child support, alimony and other support obligations received specific consideration in bankruptcy, and in particular, chapter 13. If you are looking at the potential of a bankruptcy filing, there?s something you need to know about how domestic support obligations and chapter 13 work together.
When I meet people who are considering chapter 13, it?s not surprising that they have a lot of debt. And at times, that debt might also include child support or other spousal support payments that have not been made or are delinquent. There are many reasons why: income changed, expenses changed and those obligations fell behind. But without a court order, none of these circumstances relieve a debtor?s liability.
Full post as published by McLeod Law Offices on July 30, 2008 (boomark / email).
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