Change in Divorce Settlement


#1

I was divorced in 2009 and my son was 14. I paid child support as directed until 18 but in the agreement, I am to pay half his college. I have done so since 2012’ but I have remarried, had another child and care for two minor stepchildren. My income has dropped dramatically and had to take a new job. I can no longer afford to pay for college since it would take about 40 percent of my net pay. I have to care for my family on 21k per year now. Before I was making a great deal more and no problem with the payments to college.

I now live in Indiana with my family and a new job, as I say, with a great deal less income. My question is can I, and how do I, have the agreement modified? There is no way I can afford this anymore. My ex is in a much better financial position and has a great deal of assets to more than pay for his college. Need advice. Thank you


#2

The only way to modify an agreement is to do so with mutual agreement of both parties (similar to how you both agreed to enter the agreement in 2009). If you fail to pay, the other party can file an action for breach of contract, and you may also have to pay attorney fees at that time, depending on the terms of your agreement.