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If parents file bankruptcy ie when their child is 10 what effect if any will that have when the child needs loans for college?
Wiki User
∙ 11y ago
The effects of bankruptcy usually last for seven years so your parents have an opportunity to regain their credit and be able to get a loan before you go to college. If your parents cant get a loan there are a lot of other ways for you to get loans and grants and still be able to go to college. Try to do really well in school and you may be able to get a scholarship that helps pay college tuition.
Wiki User
∙ 11y ago
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Can you file back child support in a bankruptcy in the state of Alabama?
Bankruptcy is a Federal process and has no effect on child support. Bankruptcy does not dismiss child support debts.
How do you pervent someone from filling bankruptcy on back child support?
... prevent ... Bankruptcy is a Federal process and has no effect on child support. Bankruptcy does not dismiss child support debts.
How does bankruptcy effect child support in California?
Won't. Child support is exempt from discharge.
How do you get payment on child support if your ex spouse files chapter 7 bankruptcy?
Yes, bankruptcy does not effect spousal support or child support.
Does a child's income have to be reported on the means test when the parents file bankruptcy?
No.
Can parents keep their graduated child from going to college?
A parent cannot keep a child from going to college. Most parents love to see their child wanting to go to college.
Can a court order alimony and child support after bankruptcy have been filed?
Yes.Added: Bankruptcy actions have no effect on court awards.
Is child responsible for debts of parents bankruptcy?
No, not unless the child was a co-signer and agreed to be responsible for payment of the debt.
Does filing bankruptcy hamper getting college scholarships for your child?
Yes, for Chapter 13 cases. No allowance in the monthly budget is made by the Bankruptcy Trustee for financial contributions by parents for the college education of dependents. Eligibility for financial aid is still calculated on the income of bankrupt parents, although they do not have the ability to contribute. The only relief is that students may take out additional unsubsidized Stafford loans.
Does a Parents health effect a child?
definetely!!!!!!!!!!!!!!!!!!!!
Are Parents legal responsibility for college education?
If the child is still living in their parents house - yes. If the child is living in their own place - no. Whilst the child is living with their parents - the parents are legally responsible for the child's education costs. A college education is not a mandatory parental responsibility like room and board and primary and secondary (high school) education. Therefore parents are not legally required to sponsor a child's college education. Parents are legally responsible for college education costs only if they were involved in the college enrollment and signed forms committing themselves to be responsible for the college tuition and other costs.
Does bankruptcy override child support?
NO - child support is not discharged in bankruptcy.
