The aim of this study is to understand peer-victimization and bullying in relation to peer rejection, family support, teacher support, self-esteem, depression, and school disengagement. Four hundred students from Belgian secondary schools completed a questionnaire about these variables. Cluster analyses revealed relational and emotional dynamics specific to victims, bullies, and bully-victims. Path analyses suggest that bullying is associated with a social context larger than peer interactions and having an effect on emotional and academic adjustment over the effect of bullying. Teacher support seems especially important to prevent peer aggression and school disengagement.