When you are paying or receiving child support, the payments made are based on the current situations of both parents. The income of each parent is taken into account and the calculations should reflect the current financial realities of both.
When there is a significant change in the financial circumstances of either parent, it may be necessary to modify the child support agreement. It is important that the correct steps are followed when this is done so that the process can be smooth and efficient.
Make sure that you act quickly
When a change in your financial situation occurs, it is vital that you act immediately. This is because until the child support is recalculated, you will still legally owe the same amount. For example, if you lose your job, you will still owe the same child support payments until you have modified the child support amount.
You should always make sure that you understand how the laws work in your state so that you know what you are entitled to. This will help you to know which route to take if complications arise.
Verbal agreements are often best
It’s always best to talk with the other parent and establish an amicable relationship, so they always understand the situation. It will help you to work together for the best interests of your child.
If you are struggling to pay child support and want to modify the terms, you should have clear documentation in place to help support your case. The courts want to see that child support payments are among your top financial priorities.
Source: FindLaw, “Child Support Modification,” accessed Feb. 16, 2018