When you divorce or separate from the other parent of your child, you will typically have an obligation to provide financial support for your children. Child support payments in Colorado help the parent with more parental responsibilities to meet all of the needs of the children.
As the parent paying support, you need to balance that financial obligation with your own financial needs. Typically, the courts will expect you to make your budget work regardless of your typical standard of living or personal expectations. They will not reduce your obligations just because you can’t afford the lifestyle you want.
However, there are scenarios in which you can change your support obligations, and that includes when your job changes.
Your income is a major factor in your support obligations
When the Colorado courts determine how much you will pay in child support, the division of parenting time and the income of both parents factor into the final amount of support.
When your income changes substantially, how much support you have to pay may change as well. Those who take a pay cut or who have to move to a lower-paying position may need to change the child support order to reflect their new, reduced income.
A parent who loses their jobs will also benefit from requesting a support modification. It’s important that they realize, however, that even parents with no income whatsoever still have a support obligation to their children. Learning the basics of child support in Colorado can help you decide if it’s time to ask for a change to your order.