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| Author: |
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Willard |
| Date: |
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April 10, 2003 |
| Question: |
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After 7 years of separation a judge has awarded retroactive child support to the ex in the amount of 15k with a demand for payment just 30 days away. The legal fees are about 25-30k. I own a car (3,500) but have no other assets or debts (credit is good). Income was under 10K in a small business. I am remarried and my wife has a good paying job, rrsps and a house in her name. How would bankruptcy affect this?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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April 10, 2003 |
| Answer: |
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Child support is a debt that will not be discharged by a bankruptcy. Legal fees would be discharged. You may want to talk to your lawyer about small payments to settle if that is your only debt.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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