Child support provides parents with the money needed to help cover necessities such as clothing, food and shelter. Support payments can also serve as an important way for a parent to demonstrate his or her concern for a child’s well-being. And as long as the payments are made in accordance with the conditions of the parenting plan, then all should be fine.
Unfortunately, sometimes a parent may encounter serious financial setbacks that result in having to file bankruptcy. This could make it far more difficult for that parent to maintain his or her payments. But the child will have the same needs, regardless of the parent’s financial problems. So how would a bankruptcy affect a parent’s child support obligations?
Well, typically child support responsibilities are not discharged in bankruptcy. Therefore, the payments must continue according to the established agreement. Moreover, if the parent’s money problems caused the parent to skip payments, the unpaid amount must also be covered.
But a financially struggling parent can file for a modification of the terms based on his or her legitimate inability to meet the original obligations. However, even if the parent is granted a modification and will be required to pay a reduced amount moving forward, he or she is still accountable for any payments that were previously missed.
When a parent’s ability to pay child support is seriously impeded due to financial misfortune, it is important that any adjustments made will serve the best interest of the child without putting the parent in an impossible economic bind. Therefore, the new rate of child support should be fair and reasonable.
If you are in a situation that may call for a modification of child support, you might wish to enlist the help of a Colorado family law attorney. The attorney could work with you to determine an appropriate level of support payments.