It’s estimated that in the US, at least $10 billion goes uncollected in child support every year.
Maybe you have a custody agreement with your ex and have always paid your child support on time. But you’ve had an emergency and fallen on hard times. This month, you don’t think you can make your entire payment on time.
If you can’t afford child support right now, don’t panic just yet. In this article, we’ll discuss several options you can turn to so you won’t be delinquent and in trouble.
Have a Chat With Your Ex
If you and your ex are on good terms, it may be worth getting in touch with them to know about your situation.
Perhaps you had a medical emergency or had a large unexpected expense pop up (such as roof repair). If they’re reasonable, they’ll certainly understand that you’re suddenly short on cash not because you’re irresponsible, but because of necessity.
Even if you’re not on good terms, as a parent, they may be willing to understand that you’re not trying to run out on responsibilities.
Only you know 100% what the relationship is like with your ex, so you should only contact them if you feel completely comfortable with it.
Also, you need to know that even if you reach an oral agreement, it won’t be legally binding. So there’s always a chance they’ll say they’re ok with you paying late, but then turn around and report you to court.
Contact Your State’s Child Support Enforcement Agency
Another option you may have is contacting your state’s Child Support Enforcement Agency. While you’ll have to fill out some paperwork, this can help you either temporarily or permanently lower your child support payments.
Of course, not everyone is comfortable with doing this. If this isn’t for you, then below are a few ways to get money fast so you can make your payment on time.
Ask Family and Friends for Help
If you have a good support system, it’s always a good idea to turn to family and friends for some financial help in hard times.
In most cases, they’ll be more than willing to help you out. What’s even better is you’ll be able to borrow money with no interest rate or minimum monthly payments, which makes it a lot easier to pay back this “loan.”
However, this option isn’t great for everyone. For one, not everyone has a good support system; you may not have any family or friends you can count on. In the worst-case scenario, you might not have anyone at all.
And secondly, it’s an uncomfortable position to be in when you’re asking for financial help from your loved ones. Often, these situations end badly. So if you want to preserve your strong relationships, you might want to avoid this option.
Sell off Big-Ticket Items
Throughout the years, you’ve probably amassed a bunch of valuable possessions. You may not want to part with them, but desperate times call for desperate measures.
The best way to get money fast is to sell off things like your valuable guitar and amp. This should get you a couple of hundred dollars, maybe even 4 digits if you’re selling things that are very valuable.
This option can be particularly useful if your big-ticket items have been sitting around collecting dust. Not only will you get some money, but you’ll also clear out some space in your home.
Pawn Your Big-Ticket Items
If you just can’t bear to part ways with your belongings, you can also consider pawning them.
To pawn your items, go to a pawnshop. They’ll loan you a certain amount of money and keep your items as collateral.
If you can’t pay it back, they get to keep your property and sell it off. Otherwise, you can get some cash fast and then pay the pawnshop back at a later date to get your treasured possessions back.
This may be a viable option if you know you’ll get some money in at a later date. That way, you can get cash upfront and still get your belongings back so you don’t lose out on anything.
Get a Cash Loan
Maybe you don’t have family or friends to borrow money from. And you don’t want to sell or pawn your valuables either.
The next best option is to get a cash loan. Cash loans are fast and you can use it on anything you wish. So you can borrow up to around $1,500 to spend on things like groceries, rent, or even a vacation.
In this case, you’d get the cash loan to help pay for child support this month.
Cash loans are considered short-term loans, which means you’ll have to pay the full amount off pretty soon after borrowing. There are also other requirements, such as age, net income, and proof of employment.
Because of these requirements, not everyone will be able to get a cash loan. Also, if your credit score is poor, this may mean either a rejection or a high interest rate.
Can’t Afford Child Support? Try One of the Above Options
If you’ve fallen on tough times and can’t afford child support, it may cause you some anxiety. But, hopefully, with our tips for getting money fast, you’ll be able to make the payment on time after all.
Don’t feel like all hope is lost. You might have to get creative, but in most cases, you’ll be able to scrounge up some money to pay your ex.
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