MikeC. said:
So basically . . . you all are saying . . . I'm SCREWED! Not easy to swallow, but I understand the legal rationale and I'm grateful for your responses. I have one final question, if I may? I'm now trying to modify the order to my current income (asking for a reduction). Problem is, I recently (Jan 05) helped my g/f co-signed for a new car (she has bad credit). On the loan application, I signed that I earn $180K per yr, but truthfully, I now earn $85K per yr (a substantial reduction from when the order was signed based on income of $175k yr). CP attorney has subpeonaed the car loan records. Is there a reasonable chance for the reduction based on my REAL income or am I screwed there too?
Why in the world did you do something so foolish as to lie on the loan application???? ARG! Yes, that is likely to come back and bite you in the butt.
However, there is a couple of things that are a bit confusing.
For example, if you were ordered to pay 1500.00 a month, that comes out to
18,000 per year. That was only about 10% of your previous income...so you kind of caught a break there.
It would represent, 21% of your current income, which would be a little high for one child, (average is about 17%) and a little low for two children (average is about 25%)...so depending on how many kids you have, your support may not reduce much.
You stated that you paid a reduced amount of child support over a three year period....but never less than half. Yet you state that you are 45,000 in arrears in reality. (rather than the 60,000 she is claiming) Half of 18k a year, times three would be 27k....even with interest it wouldn't get as high as 45k. Therefore, something is inconsistant here.
I suspect that you are going to be stuck with close to the original child support amount (both due to your current income and the dumb move on the loan application) and I suspect that you are going to be stuck with the full arrearages.
Take the previous advice that you recieved. Find a way to pay off a chunk of it in a lump sum, and make arrangements to pay the rest in installments.
You may need to seriously downsize for a while.