Published in on Wednesday, April 29 2009 by Ideal Debt Solutions
When a relationship breaks down, the emotional trauma can be significant. However, unfortunately, relationship breakdown is a common cause of debt. Many individuals who have coped well financially as part of a couple can find themselves in severe economic trouble once separated from their partner and, although it can be very stressful if you find yourself in this situation, you need to remain focused and clear about your financial rights.
You may be entitled to child maintenance, which will provide you with payments on a regular basis to help with the everyday costs of caring for a child. If you have been left alone with your child, your partner will need to pay this maintenance to you but setting up such an arrangement can be difficult. Some couples are lucky enough to part on good terms, which makes financial discussions easier. However, many individuals find any communication with their ex-partner stressful and assistance is available if this is the case.
If you decide not to sort out the issue of child maintenance between the two of you, the amount paid to the partner caring for the child will be calculated using criteria including the number of children involved, the net weekly income of the parent who is not responsible for the daily care of the child or children, and the amount of time that the parent without the main responsibility for providing daily care has the child for during a typical year.
Although starting the process of receiving child maintenance can be stressful, it is very important that you maximise incoming finances. If you are entitled to additional income, you really need to make sure you receive it. Caring for a child can be extremely taxing on the finances and, if you fail to take advantage of payments such as child maintenance, you could find yourself struggling with debt. For help dealing with debt, contact a professional debt solutions company.