Child support payments are not cast in stone; you can modify them if you know what to do. Below are a few tips to help you modify your child support payments if there is a need.
Respect the Time Limits
In some states, you can't just modify the child support agreement or order any time you want. You must wait for some time to pass before you can execute a modification.
A divorce jurisdiction has far-reaching implications for your divorce agreement or ruling. That is why you should be careful if you have the option to use more than one jurisdiction for your divorce. Below are some of the things to consider if you have your eyes set on a specific jurisdiction for your divorce.
Meet Residency Requirements
Nearly all the states have residency requirements that you must meet to divorce. The residency requirement is the period within which you must have stayed in a state to divorce in a state.
A divorce can often leave you without any liquid assets. Regardless of how amicable your divorce is, it can be expensive. If you have children, custody arrangements will need to be made — even if your relationship with your ex-spouse is quite good. So what can you do if you can't afford a divorce?
Arranging a Payment Plan
There are divorce attorneys who will work on payment plans, with the understanding that no one is at their most financially stable when they're going through a divorce.
If your finances aren't looking too hot these days, you may be looking at the possibility of filing for bankruptcy. While it's true bankruptcy can help eliminate some of your debt, this is obviously a serious step that can have long-term consequences. If you want to increase the chances of getting your bankruptcy approved, here are three rookie mistakes you'll want to avoid.
Don't Acquire New Debt Immediately Before Filing
When a couple that has children goes through the process of divorce, it can place tremendous stress on the emotional well-being of the child. While protecting the emotions and well-being of your child can be challenging when you are going through a divorce, there are effective strategies for better managing this challenging situation.
Be Honest With Your Child About The Causes Of The Divorce
It is important for divorcing parents to be as open and honest as possible with their children.