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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #11  
Old 12-31-2010, 09:57 AM
logicalvelocity logicalvelocity is offline
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How on earth did they qualify for that mortgage considering their personal income is about 15K per year. The mortgage documents will reveal a closer estimation of their true income. Request true copy of their mortgage documents.

Their numbers don't make sense and sadly, what they are proposing for support of their children, is far less than what they spend on their smoking habit. I suspect, income will be imputed to them as their own paperwork discrepancies will come back to haunt.
  #12  
Old 12-31-2010, 10:02 AM
supar3 supar3 is offline
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The mortgage is 14 years old. He lives in the home we bought together after the wedding. The down payment was supplied by my now deceased grandmother. I believe there is 5 years left on the mortgage and the house is paid off.
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Old 12-31-2010, 10:07 AM
BitHunter BitHunter is offline
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Quote:
Originally Posted by logicalvelocity View Post

Who works for 15K per year in a business when they could earn more at a minimum wage position full time as the originating poster stated?
Many people, who believes in the future or people who rather feed others than making more money for themselves, or people who value the relative freedom more than money, or people who are smart but can't get along well with others in a workplace.
One can decide to work for somebody else for 100.000, or work for himself for 15.000 per year now, and realistically hoping that the business they build will worth millions in a few years. There are business owners who has less money to spend than what they pay for their employees. There are people who are unable to work in a workplace setting because of personality issues. They have the choice to go on long term disability or have their own business, set their own goals, choose their own colleagues. So there can be many, many reasons why someone makes less as a business owner than could make as an employee.

From the original post it seems the guy paid cs for years based on the business income, which is vastly different from the income he could have spent privately and now the judge realized this. How many times we have seen the opposite here, when the judge imputed the earning of the payer dumbly using the companies retained earning?

Anyways, I don't think that the original question can be answered without seeing the books (and maybe the off-the-books financials) of that company, and we can't even assume that the judge is not a complete idiot.
  #14  
Old 12-31-2010, 10:16 AM
supar3 supar3 is offline
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He has been in business for himself for over 20 years. There is really no overhead as he is a service provider. He has no employees with the exception of the business partner (his brother) and he has worked in the past for celebrities and has had some of his work published in magazines. There is no store or warehouse. He works out deals from his home or in his truck on the phone. Customers call and he goes to them. When we were together about 80% of his business was cash. I doubt it is that high now but not gone completely.
  #15  
Old 12-31-2010, 10:28 AM
logicalvelocity logicalvelocity is offline
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It's also unfortunate that many individuals choose to believe in the future and feed others at the expense of their children and their CS obligation by some sort of less than honest hardship claim only as a means to delay or attempt to get out of their responsibilities.
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Old 12-31-2010, 10:45 AM
logicalvelocity logicalvelocity is offline
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Hows the partner brother doing financially at the same business that they share?
Do they have similar assets?
  #17  
Old 12-31-2010, 10:56 AM
florio florio is offline
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@logicalvelocity, I'll be 60 after the next 13 years or so, when one of my children wants to follow med school and the other God knows what 5 years degree will want to get. And I'll provide CS, with my ex telling them his father is just forced by the law to do so.

When you talk about responsibilities, where does this stop? Because ten years ago, when I was preparing my savings account for the med school, my wife was rather interested in saving children in Africa with that money, and now we no longer have those savings for our own kids.
  #18  
Old 12-31-2010, 11:09 AM
logicalvelocity logicalvelocity is offline
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Lol, you're funny. If your looking for my sympathy towards something that may or may not happen in the future, You're not going to get it.

Why not take the wait and see approach and deal with the crisis then. I guess your kids like many others can apply for OSAP or equivalent as per your jurisdiction when the time comes, and if they qualify, they will be entitled.
  #19  
Old 12-31-2010, 11:15 AM
florio florio is offline
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you didn't get the point, man.
"attempt to get out of their responsibilities" is in many cases just not renouncing completely to live your life. rszalai tried to tell you the same thing.

BTW, I know a guy who tried to sell pixels from his website, $1 the dot, to get money for his studies. He was an idiot, yeah? And he was making at that time less than 15K

PS: he received over one million donations.
  #20  
Old 12-31-2010, 11:22 AM
logicalvelocity logicalvelocity is offline
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And you didn't get the point's man! Which many have tried to tell you in your other threads.

As far as "attempt to get out of their responsibilities" I guess we wouldn't require a family responsibility office if that wasn't true.
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