Your finances are a little different now that you're divorced. While you'd love to give your child the sun, the moon and the stars on a platter, you can only afford so much. Your child support payments already take a pretty hefty chunk out of your paycheck every month.
When parents split up, child support often becomes a hard-fought issue. The paying parent may feel financially drained, while the receiving parent may feel like they don't get enough.
You are fortunate to have a good job and earn a nice income. Even after you and your child's other parent split up, you will have the means to support your children and provide for all they will need.
CHILD SUPPORT & STIMULUS PAYMENTS
COVID-19 is an unprecedented health pandemic that has raised new concerns with many unexpected issues. One of those issues is child support. Many employers are struggling with problems resulting from the temporary Coronavirus crisis; however, those problems are causing permanent changes to their businesses. The effects on the company are in turn affecting the individual employees. Individuals are experiencing reduced income due to diminished hours at work, temporary layoffs, and, in some cases, termination of their employment position.
If you're like many other people, your financial security is currently threatened by the measures being taken to contain the COVID-19 virus. You may be laid off indefinitely.
Divorce is expensive, and that can leave many divorced parents struggling to meet their bills -- including their child support obligations. If your ex-spouse is behind on support (and other bills), you may be concerned about what will happen if they file for bankruptcy protection.
If you and your child's other parent are getting a divorce, you naturally expect the other parent to pay a fair share of your child's basic expenses -- such as food, shelter and clothing. After all, that is the purpose of child support.
The Christmas season is upon us again, which means that most people will be spending much more than normal -- especially on gifts for the kids. But don't make the mistake of thinking that your gifts are an adequate substitution for your usual support payments.