If you’re referring to anything Wall Street related, I would seriously doubt it would qualify for the 15% change simply because the market is ever changing. What could be a -15% today could turn into a +20% later. If you modified for a loss, he could go back and modify once things go back up…and you may end up with less.
I don’t know though…good question for Helena.
Judgment was entered 2005. The economy has been a bust plus due to expenses related to the case, I did not receive the amount of assets that were “on paper”. I have a deficit of 40%. Now, any gains that I made are “lost” and the amount of assets are even lower. For three years, my income has been 30,000 less than the Court predicted. I am currently living off the money from the sale of my home…had to sell an asset just to be able to make ends meet. I don’t know what to do as I have already taken income tax returns before this judge. Just doesn’t seem right to be forced to sell, but the fact is, no one cares. Thanks.
run the child support calculator on the website and check and make sure your amounts will change and it will be worth the hassle and any legal costs. Sounds like you have a substantial change though.
Question: Due to the economy, assets are not producing income as anticipated. Therefore, my income has dropped substantially. (more than 15%). Is it possible for this to be considered as a change in circumstance?