Priority debts are ones a debtor must pay first through the bankruptcy process. The court views these creditors as the most important and treats them as such in forthcoming repayment scenarios. As a general rule-of-thumb, debts are given priority status when a) the creditor is the government, or b) payment to the creditor is for […]
According to the American Bar Association, 55% of Americans die without any estate planning or named beneficiaries in a will. Some of the deceased never bother to create a will or engage in estate planning, while others create a document or directive that will be found invalid after they die. In these cases, their assets […]
Domestic support obligations like alimony or child support are considered priority debt and are not eligible for discharge or write-off in any bankruptcy chapter. In short, filing for bankruptcy will not relieve an individual of their domestic support duties, nor will it wipe the slate clean for the delinquent amount. Although they cannot be discharged, […]
