Bankruptcy Indiana

After delving into the topic of small business bankruptcy in Indiana in my  blogs last week,  I received some questions from readers, and in today's blog post I'm going to answer a question concerning child support payments. 

From the reader's question, you can almost picture the situation:  There's been a divorce.  The non-custodial parent makes his or her income running a small business in Indiana.
The business probably began suffering financial difficulties even before the divorce, and the owners used dollars from their business to pay household and personal expenses. 

Or, it might have been the opposite situation, where personal income was used to try to keep the small business alive. In either case, the business and personal finances were intertwined up until the divorce. 

Now that the divorce is complete, the only source of income for the non-custodial business owner is - the business. With the recession, it's been a challenge to keep things going, and an even bigger challenge to come up with enough money to make the child support payments.

Now, the owner is thinking about finding a debt consolidation lawyer or someone to provide help with small business bankruptcy in Indiana.  He needs to know what his options are.  He wants to learn about small business bankruptcy in Indiana, but he's still  hoping to keep the business alive. 

The question is, under the new bankruptcy laws in Indiana, what will happen with the child support payments he owes?

First, as any bankruptcy lawyer in Indiana would explain, debts that cannot be discharged though bankruptcy include:

• certain taxes
• student loans
• debts incurred by driving intoxicated
• alimony and child support

As I've continued to provide Indiana bankruptcy help over the past twenty-plus years, 
I've often needed to explain that bankruptcy, same as is true of other valuable tool, cannot fix every problem. That's true for individual bankruptcy in Indiana, and equally true for small business bankruptcy. 

Certainly, the earlier in the process clients sit down with me to consider all options, the more help I'm able to offer. Still, even with the tens of thousands of successful bankruptcy situations that have been handled in the four bankruptcy law offices of Mark Zuckerberg over the years, I must admit there are some financial problems for which Indiana bankruptcy is simply not the "fix-all".

I'm fond of explaining that bankruptcy comes mostly in "cans"', but there are some "cannots" as well.  Child support is one of those "cannots", I'm afraid.