How Student Loans May Affect Your Child Support Payments

Parents who are ordered to pay child support are required to pay an amount that is based on a percentage of their net income. Unlike gross income, which includes all income from any sources, a person’s net income can be determined only after certain deductions are made. Most people know of the common deductions like taxes and social security withholdings, but your student loan repayments may also be deducted for the purpose of calculating child support. On January 1, 2016, a new law will take effect that revises many important provisions of the current Illinois Marriage and Dissolution of Marriage Act. One of these revisions is to the section that lists the deductions that are permissible when calculating a payor’s net income for purposes of calculating child support. While the law currently provides for the deduction of “expenditures for the repayment of debts that represent reasonable and necessary expenses for the production of income,” under this new law, the repayment of student loans will specifically be included with that deduction.

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If you are looking for legal advice and representation with an Illinois divorce, schedule a consultation with experienced Chicago divorce attorney, Tanya Witt, at (312) 500-5400 or info@thewittlawfirm.com.

Representing men and women in Chicago divorce and child custody cases.

This blog does not constitute legal advice. Please consult with an attorney regarding your specific case.