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Equalizing Payment

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BarbInWire

Junior Member
What is the name of your state? CALIFORNIA

There is an equalizing payment in my divorce. The attachment to my Judgment for divorce says:

"Equalizing Payment: As and for an equalization of the division of the community property assets and obligations, the Petitioner shall pay to the Respondent the amount of $6,000.00. The Petitioner agrees to pay this amount at the rate of $500.00 a month commencing June 1, 2005, and on the first day of each month thereafter for a total of five payments. On November 1, 2005, the Respondent shall owe to the Petitioner the amount of $3,500.00 thereby totaling the amount of $6,000.00 as and for the equalizing payment. The monthly payments for the months of June through October shall be due on the first day of each month, and delinquent by the 10th day of each month. If any payment should be delinquent, the remaining amount owed shall then become due and payable, together with statutory interest on the unpaid amount."

That is all it says. I have made the monthly payments of $500.00 each month and on time.

My question is: Do I have to make the final payment in one lump sum of $3,500.00? I do not have one lump sum of $3,500.00 so, Can I continue to make payments?

To me it kind of seems like I can pay it whenever, like 10 years from now at the amount of $10 a check if I feel like it! LOL! I would not do that. I just want to know if I can continue with my payments.
 



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