Filing for bankruptcy can offer the potential for a new financial future for people in New York struggling with the weight of insurmountable debt. Despite the potential benefits of bankruptcy, however, many individuals hesitate before filing. In some cases, people regard bankruptcy filings as a type of failure on a personal and financial level and thus may be hesitant to take that step. However, the consequences of waiting can cause someone to be in a far deeper financial hole from which to emerge.
When people in New York decide to divorce, the financial repercussions can be significant. While every divorce is unique and carries its own characteristics, there are a few universal principles that can help future exes avoid costly oversights or errors during the process. The post-divorce period can also bring a number of changes in lifestyle.
You worked to support your husband during the early days of your marriage while he completed his college education. Like many other New York wives, you stayed at home when your children were young because it was more affordable than paying for child care. Once the kids got older, you got a part-time job for extra income, since your husband was making more than enough money to keep your family comfortable.
Parents in New York may benefit from learning about the statistics revealed in the Custodial Mothers and Father and Their Child Support report that is released by the United States Census Bureau every couple of years. The latest version, which was released in January 2016, provides information that contradicts assertions made by some political commentators that single parents are receiving too much child support.