Judgment Liens Securing Support Awards

Encyclopedia

Checklists

Tools

Downloads

Bookstore

Judgment Liens Securing Support Awards

Information Provided by: Divorce Source, Inc.

The substance of 522(f)(1)(A), qualifying the phrase "a judicial lien" was added by the Bankruptcy Reform Act of 1994. As a result of this provision, a judicial lien securing a support obligation may never be avoided under 522(f)(1)(A). As discussed above, courts tend to interpret the term "support" quite broadly.

However, the bankruptcy court is required to look behind a label placed on an obligation to determine the true nature of the debt based on the intent of the parties at the time the obligation was created.

Information Provided by: Divorce Source, Inc.

Related Article Archives

Property & Debt Division

Property Valuations

Tax Aspects

All Article Archives

Related Categories

Alimony & Spousal Support

Divorce, Dollars & Debt

Divorce Financial Planning

Taxes & Divorce

All Categories

Related Forums

Bankruptcy

Financial Aspects

Property & Debt

Tax Aspects

All Forums

Resources & Tools

	Start Your Divorce Several Options to Get Started Today.		Online Divorce Tools Keeping it Simple to Get the Job Done.
	Download Center Instantly Download Books, Guides & Forms.		Discount Books Over 100 of the Best Divorce & Custody Books.
	Negotiate Online Settle your Divorce and Save.		Custody Scheduling Make Sure You Document Everything.

TWO KINDS OF BANKRUPTCIES -- Individuals filing for bankruptcy choose one of two types, Chapter 7 and Chapter 13. Chapter 7, the so-called "straight bankruptcy," eliminates all dischargeable debt and stays on the debtor's credit report for 10 years, but the debtor emerges from the bankruptcy with a clean slate. Chapter 13 restructures debt so that the debtor takes a longer time to repay but he or she keeps some property, and it remains on the debtor's credit report for seven years.

Easily Connect With a Lawyer or Mediator

Have Divorce Professionals from Your Area Contact You!