Judge Dismisses DMX Bankruptcy
Every so often a bankruptcy story about a celebrity appears in the news. The latest story concerns Earl Simmons, a rapper and hip-hop star that goes by the name “DMX”. The largest single debt he has is $1.2 million in child support owed to the mothers of some of the 10 children he has fathered.
One of the most commonly misunderstood concepts of bankruptcy is which debts are dischargeable and which are not. While there are exceptions to this rule, it is easy to remember the three types of debts that are NOT dischargeable: (1) student loans; (2) taxes; and (3) domestic support obligations. Domestic support obligations include alimony and child support. Unfortunately for Earl Simmons, but fortunately for his children, he will not be able to discharge the $1.2 million dollars he owes in child support.
If you have a question concerning debts that are dischargeable, contact a bankruptcy attorney today.
Posted by Sean Wood