You do what you can to make sure your children get the support that they need. You live for the time you get to spend with them, even if it is not as much time as you would like. Unfortunately, you are finding your time with them being cut short, all because your ex is not happy with your child support agreement or because you are finding it challenging to keep up with your ordered payment amount. Withholding children over support issues is a complaint often seen in Michigan family law courts.
Financial struggles abound for many Michiganders. There are several reasons for this. However, according to a recent report, the most significant cause of financial difficulties for most people is medical debt. Numerous individuals who seek bankruptcy law protection do so due to the inability to pay their medical and other bills that result from their failing health.
Credit cards certainly have their place in a person's wallet, if used properly. Unfortunately, for many Michigan residents, they are used to cover expenses when their money runs out. Bills and other expenses have to get paid somehow, right?
Alimony is not ordered in every marital dissolution case, but when it is, the party ordered to pay it is expected to do just that per the terms set in the order of support. Unfortunately, some Michigan residents find themselves in the position of not receiving the money granted to them as part of their divorce settlements. What can these individuals do when this happens?
When it comes to divorce, the dividing of assets and liabilities is one of the most complicated things a couple will have to deal with. There is a lot involved in deciding who gets to keep what and who is responsible for shared debt. Speaking of debt, if one's spouse has a student loan, in the state of Michigan, it may be considered shared marital property.
Having a good credit profile is necessary if one wishes to gain access to credit cards, loans and rental properties -- among various other things. The problem is, many Michigan residents have found themselves with less than stellar credit ratings due to debts, the inability to repay their debts and specific actions taken to clear their debts -- such as bankruptcy. Because of this, there are those who refuse to file bankruptcy or who will look for companies after the fact that can help them repair their credit, but if they are not careful, they may find themselves worse off.
When Michigan couples who share children separate or divorce, both parties are responsible for financially providing for their kids. As part of a separation or divorce agreement, one parent is often listed as the one with primary physical custody -- even in cases where joint custody is awarded. According to family law, it is the other parent who will likely have to make child support payments. On occasion, one or both parties may feel it necessary to adjust the order of support. This week, this column will answer some commonly asked questions regarding support modification.
The thought of filing for bankruptcy is depressing for most Michigan residents. It is hard to admit one needs help getting personal finances in order. Here's the deal: When thought of as a tool for financial improvement, filing for bankruptcy law protections does not have to feel like the end of the world. It can serve a valuable purpose -- as it did for singer Lil Kim.
One huge financial hurdle in any divorce is the division of assets. But along with the division of assets, the division of incurred debts can also be necessary. While many divorcing spouses see the fight for keeping the family home or car as the most contentious issue, other spouses might be most eager to avoid the acquisition of marital debt.
For a long while, statistics have shown millennials and those from Generation Z to be better at staying out of debt than Gen Xers or baby boomers. According to a recent report, that does not seem to be the case any longer. Younger adults in Michigan and elsewhere are now said to be having a serious issue with credit card debt. For these individuals, bankruptcy law may be able to help their situations.