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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.
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Seven Tips for Trying to Reduce Alimony in this Economic...
New Jersey is an equitable distribution state, meaning that the division of property in a divorce is to be done fairly, not necessarily equally. The court can take into consideration any factor it deems relevant when dividing property, but it must consider certain factors, such as how long the couple was married and the age and health of both spouses, the income or property brought to the marriage by each spouse, the standard of living that was achieved during the marriage, and the extent to which one spouse may have deferred career goals, among others.
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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
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