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Paying child support as a business owner

| Jul 13, 2018 | Child Support

For some business owners, the financial consequences of ending their marriage can be tough, whether they struggled with the division of marital property or alimony. Child support payments can also be difficult for business owners for a number of reasons, from figuring out how much they will be required to pay to making payments on time in the wake of financial difficulties. If you run a business, it is important to make sure that you stay current on child support you owe regardless of business-related challenges you may encounter.

Some business owners may find that their income fluctuates, while others may need to shut down their business altogether due to unexpected challenges that have arisen. If you have recently experienced major financial changes, it could become much more difficult to stay current on your child support. However, you could have a number of options available. Aside from setting aside money and changing your financial habits, you might be able to have your child support order modified.

Some people who have been through significant financial changes are able to modify their child support order to reduce the amount they owe and this has been instrumental in preventing them from falling behind, which can bring a variety of consequences and make life even tougher from a financial perspective. We understand that the idea of modifying a child support order may seem stressful to some people, but it is pivotal to take the steps that are necessary to protect yourself from the consequences that come with back child support.