Conspiracy theorist Alex Jones cannot use his personal bankruptcy to escape paying at least $1.1 billion in defamation damages stemming from his repeated lies about the 2012 Sandy Hook elementary school massacre, a U.S. bankruptcy judge ruled Thursday.
Depends on which chapter of bankruptcy, which all entail wildly different things. There’s bankruptcy that effectively eliminates debt and others which force you and your debtors to come to the bargaining table to restructure your payment plan or they get nothing since you could just file for actual bankruptcy
The difference is if you can afford to pay for the lawyers necessary to create that restructuring or if there’s any trust at all that you can pay it off eventually without getting yourself deeper in debt