Child support is the financial obligation for the noncustodial parent to provide payment for the costs of raising his or her child. Federal Child Support Guidelines calculate the monthly payment amount.
Financial hardship often arises following a separation and the requirement for a parent to make monthly child support payments. Frequently, the parent is unable to maintain existing payments to creditors plus make child support payments. Payment arrears to creditors and child support arrears often begin to accumulate in these circumstances.
Any debt for child support arrears will survive a consumer proposal or personal bankruptcy debt restructuring plan. Being proactive and seeking professional advice early before child support arrears accumulate is extremely important.
In seeking professional assistance from a Faber Trustee, your objective may be to obtain an immediate reduction or elimination in payments to creditors in an effort to maintain monthly child support payment obligations.
If you find you are unable to maintain your child support payments and payments to your creditors, it is important to consult with a Faber Trustee to review your options and discuss a consumer proposal or personal bankruptcy debt restructuring plan as soon as possible.