Not receiving court-ordered child support payments in a timely manner can be extremely frustrating for custodial parents in Texas and around the country, but it may be unwise for them to respond by withholding visitation. This is because visitation and custody arrangements are put into place with the best interests of the child in mind, and interfering with them over financial issues could lead to legal problems.
Texas parents who have a child support balance in arrears may still be able to get a mortgage. However, this will depend on whether the balance appears on a credit report. It will also depend on the parent's income, credit score and debt-to-income (DTI) ratio. For example, someone who applies for a Fannie Mae loan with a DTI of over 36% will need a credit score of 700 to buy a house with a down payment of less than 25%.
When people in Texas get divorced, one of the most difficult issues to resolve can be child custody. An increasing number of family courts favor joint or shared custody whenever possible, and many aim to have both parents agree on a custody solution and develop a parenting plan. However, when the relationship between the parents is more difficult, it can be particularly important for them to be prepared to show important information to protect their relationships with their children. There are some key documents that can be especially crucial to supporting a child custody hearing.
Some Texas couples have a desire to kick off their married life together with the perfect wedding. While there is nothing wrong with this goal, a study conducted by a leading online lending marketplace found that going into debt to achieve it could contribute to the end of a marriage. The study was based on a survey of more than 500 Americans between the ages of 18 and 53 who were married within the last two years.
Divorce can be hard on children, and a conflict-ridden divorce in which children feel forced to choose sides can lead to problems that follow them for years. However, this outcome is not inevitable. Parents in Texas who are getting a divorce can take several steps to help their children better adjust.
If a parent is sent to jail or prison in Texas or anywhere else, he or she may still be responsible for paying child support. However, individuals can ask a judge to either suspend an order while they are incarcerated or reduce how much they owe. People should also acknowledge and account for any back support that has not been collected. This is because those who are in prison are relatively easy for state agencies to find.
Texas residents who shop online will likely know that Amazon has grown from humble beginnings to become one of the world's most valuable companies, and they may be aware the online retailer's founder, Jeff Bezos, is now said to have a net worth in excess of $100 billion. These developments prompted legal experts and gossip columnists alike to turn to social media in January when Bezos and his wife of 25 years announced that they were ending their marriage.
Married individuals may prefer to maintain their own bank accounts. This can be helpful in the event of a divorce because they will exert greater control over the money in those accounts. However, having separate accounts may not make the money inside of them separate property because Texas is one of a handful of community property states. What that means is that property and debts accumulated during a marriage will likely be divided 50/50.
Divorce is one of the most stressful events a person can go through. It is costly in terms of time, emotion and finances. For parents who are approaching or going through divorce in Texas, child support decisions can have a major impact on life following the separation. Parents should take into account all expenses related to raising the children, control their emotions and keep careful track of spending.