Is alimony revoked if the payor declares bankruptcy?

In Oklahoma, alimony payments can be revoked if the payor declares bankruptcy. This means that the payor is not required to pay the alimony amount while bankruptcy is in effect. However, if the court decides that the payor is able to make the payments while in bankruptcy, then alimony payments may still be required. The United States Bankruptcy Code states that alimony payments are considered a priority claim, which means that it receives special consideration during the bankruptcy process. Generally speaking, alimony payments are considered to be a more important debt than other debts such as credit card debt or medical bills. In other words, if there is money available for these payments, then the court may require the payor to make the payments. It is important to note that alimony payments may be revoked if a payor declares bankruptcy, but it is not always the case. In some circumstances, the court may require that the payor make payments while in bankruptcy. Additionally, it is important to understand that alimony payments may be used as a form of payment for other debts during the bankruptcy process which could reduce the amount of alimony owed. It is also important to discuss alimony payments with an attorney before filing for bankruptcy in order to understand how it may impact any existing alimony payments.

Related FAQs

Can alimony be awarded in an annulment?
What are the factors that are considered when awarding alimony?
Are alimony payments considered alimony for tax purposes?
Is alimony income taxable?
Are alimony payments deductible for the payor?
Can alimony be waived in a divorce settlement?
How is alimony affected by cohabitation?
Is alimony considered marital income?
Does alimony have to be requested in the divorce petition?
How is alimony affected if the recipient cohabitates with another partner?

Is alimony revoked if the payor declares bankruptcy?

Related FAQs

Related Blog Posts