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Does a Bankruptcy Affect My Prior Divorce Settlement?
Many Illinois couples are faced with crippling personal debts and make the difficult decision to file for bankruptcy. Unfortunately, bankruptcy does not eliminate all debts. For example, federal law does not allow a bankruptcy court to discharge any debt incurred as the result of a “domestic support obligation,” such as child support or spousal maintenance. This means that if you and your current spouse seek bankruptcy protection, you may still need to deal with the consequences of a prior divorce.
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