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The effects of money issues before and after divorce

On Behalf of | Jul 18, 2018 | Child Custody And Support

For many California parents whose marriages end in divorce, money issues play a significant role in the separation. For some of them, financial issues continue to impact their interactions and decisions even after the divorce papers are signed. When these decisions are made from anger, they can even negatively affect the children’s well-being. Finances can drive some parents to lose focus of what should come first: the children’s best interests.

In a recent column, a man who once had a good executive job recounted his post-divorce money issues. While his family enjoyed the life his job provided, he himself was not happy and not healthy. When he lost his job, his wife was not receptive to the changes he wanted to make related to work-life balance and eventually, the marriage ended in divorce. As the man continued to struggle financially, he came to a point where he informed his e-ex-wife he would be late with the child support payments but would make it up as soon as he could. His ex-wife, in anger, reported him to the attorney general’s office.

This one decision ended up impacting him financially. By extension, it also impacted his children since it became a mark on his credit report. This also meant he could not restructure his finances during a bankruptcy or get a loan for a car, which he needed to pick up his children. Additionally, it might even affect his possibilities of getting a new job, as many companies now run credit checks before hiring someone.

Parents who are divorcing and negotiating child custody issues should focus on the best interests of the kids involved when making decisions. To that end, they should consider the assistance of a family law lawyer who can offer help during the negotiation process.