Business, Legal & Accounting Glossary
Overdue alimony or child support payments. In recent years, state laws have made it difficult to impossible to get rid of arrearages; they can’t be discharged in bankruptcy, and courts usually will not retroactively cancel them. A spouse or parent who falls on tough times and is unable to make payments should request a temporary modification of the payments before the arrearages build up.
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This glossary post was last updated: 22nd April, 2020 | 0 Views.