It depends on whether your terms are in a separation agreement or consent order.
If child support terms are in a court order, then you must show a substantial change in circumstances affecting the wellbeing of the minor children in order to have the child support order modified. A reduction in income alone is generally not sufficient to show a substantial change in circumstances - you must prove additional facts.
It is presumed to be a substantial change in circumstances affecting the wellbeing of the minor children if three years have passed since the entry of the current order AND there is a 15% or more change in the monthly child support obligation using the parents’ current financial circumstances and the amount of child support in the current order.
If child support terms are in a separation agreement, then the modification must be with the mutual agreement of both parties, however, most separation agreements have provisions for the periodic modification of child support.
If alimony terms are in a court order, then it can be modified upon a substantial change in circumstances.
If alimony terms are in a separation agreement, then they can only be change with the mutual consent of both parties.
Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest
Rosen Online | Unlimited confidential access to a North Carolina attorney for $199/mo - click here
The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.