New Jersey Info
New Jersey Divorce Start Your Divorce Find Professionals New Jersey Articles Divorce Facts Divorce Grounds Residency Divorce Laws Property Division Alimony Child Custody Child Support Divorce Forms Grandparent Rights Forum New Jersey Products Divorce by County
New Jersey Articles
Agreements Attorney Relationship Custody & Visitation Child Support Collaborative Law Counseling Divorce/General Domestic Abuse Domestic Partnership Financial Planning Foreign Divorce Mediation Parenting Property Division Spousal Support
Seven Tips for Trying to Reduce Alimony in this Economic Meltdown
If you listen to the news, then you are constantly hearing about how the banks are failing, the stock market has crashed, people have lost one half of their retirement savings, and how the auto industry is dying. However, unfortunately you don't hear all that often as to how the economic meltdown is wreaking havoc on many New Jersey families. In this day and age a new harsh reality is lurking all throughout the Garden State; many people are unable to keep up with their child support and alimony payments no matter how hard they try. As the economic meltdown show no sign of stopping, many newly unemployed divorcees simply can't find work to enable them to pay for their alimony and child support payments.
With the unemployment rates New Jersey at record high rates it is no surprise that many New Jersey'ites are unable to keep up with their alimony payments. These distressed alimony payors simply do not have the ability to pay anymore. There are legions of good, hard-working, and solid New Jersey citizens who are not irresponsible deadbeats. On the contrary, they are just unable to meet their financial obligations in this tough economy. Don't despair! There are many legal options within the New Jersey court system to try to have alimony payments reviewed, and possibly reduced, and even in some cases terminated for good. However, it is imperative that you must provide detailed proof that you have lost your job, or you have received a sizable cut in your paycheck, your commissions are not coming in, or your overtime has been cut.
Here a seven tips for an economically distressed person who is having a difficult time keeping up with his alimony, and who is also considering filing a motion for an alimony reduction.
New Jersey has five types of spousal support. Rehabilitative alimony is a short-term monetary award that allows a spouse to go back to school or obtain training to re-enter the workforce. Limited duration alimony is awarded in cases of a short marriage when rehabilitative alimony doesn't apply. Reimbursement alimony is awarded when one spouse makes a personal sacrifice so that the other spouse could receive professional or career training. Alimony pendente lite is awarded when a divorce is pending so that both parties can maintain their current standard of living until a final judgment is made. Finally, there is permanent alimony which is usually appropriate in long term marriages and typically terminates upon the death of either party or remarriage.
Easily Connect With a Lawyer or Mediator
Have Divorce Professionals from Your Area Contact You!
|Your Right to Child Custody, Visitation & Support
Cover Price: $
Your Price: $17.95
You Save: $7.00
"A Plain English Guide to Protecting Your Children"
Author: Mary L. Boland, Attorney at Law
|The information contained on this page is not to be considered legal advice. This website is not a substitute for a lawyer and a lawyer should always be consulted in regards to any legal matters. Divorce Source, Inc. is also not a referral service and does not endorse or recommend any third party individuals, companies, and/or services. Divorce Source, Inc. has made no judgment as to the qualifications, expertise or credentials of any participating professionals. Read our Terms & Conditions.|