7 ms·

I'm curious, what actually happens when you're fined some comically large amount of money? Do you just immediately declare bankruptcy and let the courts carve u

by jvm 3y ago

I'm curious, what actually happens when you're fined some comically large amount of money? Do you just immediately declare bankruptcy and let the courts carve up your assets? Is that usually the end of that or do you still end up having your wages garnished after bankruptcy?

deleted 3y ago
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ipnon 3y ago
If it was as easy as declaring bankruptcy I don’t think anyone would ever receive alimony or child support.
- nmjohn 3y ago
  Child support generally can't be removed in bankruptcy
  - deleted 3y ago
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  - quietbritishjim 3y ago
    That is precisely the point of the comment you replied to.
    - deleted 3y ago
      [deleted]
    - nmjohn 3y ago
      I've read it numerous times after initial agreeing with you, and I don't think that is the case. To me it sounds like they are saying if declaring bankruptcy were that easy, nobody would be receiving child support because everyone who owed it would just declare bankruptcy to get out of paying it.
      - deleted 3y ago
        [deleted]
      - ipnon 3y ago
        Hey I appreciate the comment! I meant “if you could simply resolve debts mandated by the government by declaring bankruptcy, then people would declare bankruptcy just to absolve themselves of owed alimony or child support. Since this is not the case as far as I know, it would seem that Elizabeth Holmes would still be forced to repay this fine even after declaring bankruptcy.” I clearly have some work to do regarding the clarity of my comments!
- Dylan16807 3y ago
  Even if it worked, I would expect bankruptcy to only let you escape the backlog.
- deleted 3y ago
  [deleted]
0zemp2c 3y ago
you can't get blood from a stone once all of her assets are gone, it would seem mostly symbolic...its not like she is ever going to generate that kind of income after being released
tedivm 3y ago
For the rest of her life she will have money garnished from her paycheck and applied towards what she owes. There's a formula they use to ensure that the person still makes money to cover themselves. https://www.dol.gov/agencies/whd/fact-sheets/30-cppa https://www.dol.gov/agencies/whd/fact-sheets/30-cppa
- P_I_Staker 3y ago
  I think may sometimes be possible to get out from under it without paying the full sum. ie. you pay some percentage and it lapses after some time.
tivert 3y ago
> I'm curious, what actually happens when you're fined some comically large amount of money? Do you just immediately declare bankruptcy and let the courts carve up your assets? Is that usually the end of that or do you still end up having your wages garnished after bankruptcy? According to this random lawyer, bankruptcy won't discharge those debts: https://thompsonlawoffice.net/787/discharging-criminal-debts-in-chapter-7-bankruptcy/ https://thompsonlawoffice.net/787/discharging-criminal-debts...: > On the other hand, the following types of court debt have usually been found to be nondischargeable in Chapter 7 bankruptcy: > restitution ordered to be paid to compensate victims of crimes
- Eddy_Viscosity2 3y ago
  Elizabeth will get out of paying these debts. She's a pro grifter after all.

by jvm 3y ago

deleted 3y ago

[deleted]

ipnon 3y ago

If it was as easy as declaring bankruptcy I don’t think anyone would ever receive alimony or child support.

nmjohn 3y ago
Child support generally can't be removed in bankruptcy
- deleted 3y ago
  [deleted]
- quietbritishjim 3y ago
  That is precisely the point of the comment you replied to.
  - deleted 3y ago
    [deleted]
  - nmjohn 3y ago
    I've read it numerous times after initial agreeing with you, and I don't think that is the case. To me it sounds like they are saying if declaring bankruptcy were that easy, nobody would be receiving child support because everyone who owed it would just declare bankruptcy to get out of paying it.
    - deleted 3y ago
      [deleted]
    - ipnon 3y ago
      Hey I appreciate the comment! I meant “if you could simply resolve debts mandated by the government by declaring bankruptcy, then people would declare bankruptcy just to absolve themselves of owed alimony or child support. Since this is not the case as far as I know, it would seem that Elizabeth Holmes would still be forced to repay this fine even after declaring bankruptcy.” I clearly have some work to do regarding the clarity of my comments!
Dylan16807 3y ago
Even if it worked, I would expect bankruptcy to only let you escape the backlog.
deleted 3y ago
[deleted]

0zemp2c 3y ago

you can't get blood from a stone once all of her assets are gone, it would seem mostly symbolic...its not like she is ever going to generate that kind of income after being released

tedivm 3y ago

For the rest of her life she will have money garnished from her paycheck and applied towards what she owes. There's a formula they use to ensure that the person still makes money to cover themselves. https://www.dol.gov/agencies/whd/fact-sheets/30-cppa https://www.dol.gov/agencies/whd/fact-sheets/30-cppa

P_I_Staker 3y ago
I think may sometimes be possible to get out from under it without paying the full sum. ie. you pay some percentage and it lapses after some time.

tivert 3y ago

> I'm curious, what actually happens when you're fined some comically large amount of money? Do you just immediately declare bankruptcy and let the courts carve up your assets? Is that usually the end of that or do you still end up having your wages garnished after bankruptcy? According to this random lawyer, bankruptcy won't discharge those debts: https://thompsonlawoffice.net/787/discharging-criminal-debts-in-chapter-7-bankruptcy/ https://thompsonlawoffice.net/787/discharging-criminal-debts...: > On the other hand, the following types of court debt have usually been found to be nondischargeable in Chapter 7 bankruptcy: > restitution ordered to be paid to compensate victims of crimes

Eddy_Viscosity2 3y ago
Elizabeth will get out of paying these debts. She's a pro grifter after all.