(PRWEB) July 01, 2014
The team at online divorce service MyDivorcePapers.com (MDP) has seen the financial toll that a regular trial divorce can take on a couple. With so many coming to MDP to get away from that kind of high cost and high conflict, there is great interest in helping clients also get their financial feet back underneath them. In that spirit, the company has put together a new tip sheet showing how to do just that. Here’s what they recommend.
Tip One: Count The Beans.
When the divorce papers are final, most parties in an uncontested divorce typically walk away with their share of debt. It’s usually not a 50/50 split, MDP notes, but it’s nevertheless something that these individuals must contend with on one income instead of two. “Before you do anything else, get a handle on where all your money is coming from,” a rep explained. “What are the revenue streams? Not only will you need to be open and honest with this information for the settlement, but you’ll also need it when it comes to handling debts and expenses in addition to planning for retirement.”
Tip Two: Manage Debt Obligations.
MDP urges couples who decide to file for divorce without the aid of a lawyer to next focus on handling their debt obligations in the most respectable manner possible. Said the representative: “When looking over your debt obligations, you’ll need to set goals for when you plan to have it paid off. In the case of a car note or a house note, that decision may already be set in stone. Other debts, like medical bills, may offer more flexibility. Determine the when of your objectives and then start comparing that against how much income you have. Addition, division, and subtraction — those are the only math skills you’ll need.”
Tip Three: Don’t Miss Obligations That You Have To Your Ex.
Finally, MDP urges couples to take the obligations they have to each other post-marriage very seriously. “This could mean alimony or child support — more often, child support,” a rep explained. “The moment you start missing those obligations is the moment that the conflict of your divorce can reignite, costing you even more in penalties and court fees. If you’re going through a rough patch financially and owe something to your spouse or to your spouse on behalf of your child, use the official channels for reporting that. Don’t just stop paying.”
MyDivorcePapers.com provides affordable divorce forms solutions for those looking to file for divorce. Paperwork can be completed and compiled in 45 minutes for immediate use.
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