How to pay for a divorce can present a challenge for some people in Texas. Options might include taking out a personal loan, using a credit card, using savings or borrowing from family. Each of these approaches could have advantages and disadvantages.
As some Texas residents have experienced, divorce can include the complicated process of dividing assets and debt. And because not all debt is equal, it might be difficult to understand, for example, who is responsible for paying back one of the spouse's student loans.
Do you fall into the high number of residents who rent their property? According to 2019 study, nearly 48% of residents in Tyler are renters. This is especially true for people who are not married, as the majority of people who fall under this demographic are currently renters.
In Texas and other states, there are many myths about what it means to be a non-custodial parent. All it really means is that the person does not have physical custody of their children. They may be a legal custodian of their child, but for one reason or another, they are not the primary caregiver. Non-custodial parents usually have visitation rights, pay child support and participate in their children's lives regularly.
Parents in Texas who are divorced must generally help provide for their children financially. This is true regardless of the relationship that they have with the child's other parent. While some feel that paying child support is akin to paying a ransom, the goal is to make sure that the child has sufficient resources to grow into a productive adult. There are many misconceptions about the system that could be fueling someone's beliefs about paying child support.