Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

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

Closed Thread
 
Thread Tools
  #1  
Old 08-08-2012, 09:21 PM
Jackalope39 Jackalope39 is offline
Junior Member
 
Join Date: Jul 2012
Posts: 6
Jackalope39 is on a distinguished road
Default I can't afford our agreement

Looking for some ideas!
I was married for almost 4 years together for 7 total. After we split up we divided everything equally with her basically taking over the house which I owned prior and the family van. 410,000 total equity! I kept the stocks accounts rrsp etc.
I have 2 boys both young with my ex. We based my commission type job on 180,000 paying 2501.00 in child support and 2648.00 in alimony.however employment letters and pay stubs have me at 165,000 projection for the year! We agreed at the 180 due to the fact that commission can be up into the 200+ range! However increased employees has lowered income to the 160,000 range! As I took the things such as truck and trailer the things that we both made payments on, I'm finding it impossible to get by month to month paying alimony (6 years max) to a professional career person who refuses to go back to work till both kids are full time in school.
Since I have dug into 17,000 in line of credit as lately 4500/ month I'm clearing, thus digging a bigger hole. Getting rid of truck and trailer would create a negative number as I owe more than I'd get!
The problem is I agreed to these payment terms in our separation agreement!
Am I stuck living month to month while she takes in 5149/ month with payments around 1200/month
We share custody of the boys
  #2  
Old 08-08-2012, 09:34 PM
Jackalope39 Jackalope39 is offline
Junior Member
 
Join Date: Jul 2012
Posts: 6
Jackalope39 is on a distinguished road
Default

I should also point out I was offered a promotion to become the boss, but had to turn it down as salary is 130,000 but home everynight with weekends off. I work on call 24/7 and thus it's hard to plan visitation and I have no set time off but she does work with me trying to see them! The problem is I want to see them as much as possible, but can't take time off cause I'm already living cheque to cheque!
  #3  
Old 08-08-2012, 10:39 PM
arabian's Avatar
arabian arabian is offline
Senior Member
 
Join Date: Jan 2011
Location: Western Canada
Posts: 10,668
arabian will become famous soon enough
Default

Is the house she took over with or without a mortgage?
  #4  
Old 08-08-2012, 10:57 PM
Jackalope39 Jackalope39 is offline
Junior Member
 
Join Date: Jul 2012
Posts: 6
Jackalope39 is on a distinguished road
Default

She is free and clear, no mortgage no car payments! Just insurance and bills! She banks about 3000/ month
While im in the hole every month, I have truck payments and a mortgage as I refused to rent or live in my trailer as she had hoped! I'm 37 and owned a house since I was 19. I finally became mortgage free 8 months ago. But now that it hers.
I'm not playing the poor me thing here, but both supports have me living lower than I had been, while she's living higher than she had been! And the worse thing is she has the kids day in and out!
  #5  
Old 08-08-2012, 10:59 PM
arabian's Avatar
arabian arabian is offline
Senior Member
 
Join Date: Jan 2011
Location: Western Canada
Posts: 10,668
arabian will become famous soon enough
Default

your opening post stated you divided everything equally.

I'm almost afraid to ask - did you have a lawyer or did you come to this wonderful agreement on your own?
  #6  
Old 08-08-2012, 11:07 PM
Jackalope39 Jackalope39 is offline
Junior Member
 
Join Date: Jul 2012
Posts: 6
Jackalope39 is on a distinguished road
Default

Yes everything was equally, however at the time I had stocks that were very high and have now been cut in half! Missed my window to cash out!
We went to a mediator 4 sessions as we had hoped to remain friends, mutual separation! Then after agreeing and going to a lawyer to sign the agreement we went back and forth with issues and it started to get ugly! We both compromised and agreed quickly! However work has been much slower than anticipated, thus my new financial hardships!
  #7  
Old 08-08-2012, 11:48 PM
atlanticcanadian atlanticcanadian is offline
Senior Member
 
Join Date: Mar 2011
Location: dartmouth, nova scotia
Posts: 270
atlanticcanadian is on a distinguished road
Send a message via MSN to atlanticcanadian
Default Variation Order

Can you try to work out a new agreement given your new financial status and then place it into a variation order?

I had agreed to that with my ex.
  #8  
Old 08-09-2012, 05:21 AM
Jackalope39 Jackalope39 is offline
Junior Member
 
Join Date: Jul 2012
Posts: 6
Jackalope39 is on a distinguished road
Default

Quote:
Originally Posted by atlanticcanadian View Post
Can you try to work out a new agreement given your new financial status and then place it into a variation order?

I had agreed to that with my ex.
Yup I can, she won't!!!
  #9  
Old 08-09-2012, 06:40 AM
atlanticcanadian atlanticcanadian is offline
Senior Member
 
Join Date: Mar 2011
Location: dartmouth, nova scotia
Posts: 270
atlanticcanadian is on a distinguished road
Send a message via MSN to atlanticcanadian
Default Apply to the Court or get a lawyer to

Apply to the Court for a Variation or suspension order. It is what my ex did. When I saw his evidence I gave him his suspension.
  #10  
Old 08-09-2012, 10:39 AM
OrleansLawyer OrleansLawyer is offline
Senior Member
 
Join Date: Jul 2012
Posts: 1,787
OrleansLawyer is a jewel in the roughOrleansLawyer is a jewel in the roughOrleansLawyer is a jewel in the rough
Default

Quote:
I agreed to these payment terms in our separation agreement!
Has the agreement been registered with the court? If no, you can reneg on the agreement until she files it at court. Keep paying child support, however.

Use the breathing space to bring a Motion to Change (form 15) for the agreement. Plead material change in circumstances and undue hardship. Depending on the wording of the agreement, you may do alright.

That being said, if you are still clearing 13-14k per month, her lawyer will want to know why you can't afford 5k in support, half of which is tax deductible. I suggest getting your financial ducks in a row and seeing a lawyer about whether the fight is likely to be successful or simply result in high costs against you.
Closed Thread

Tags
agreement, alimony, separation, support


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Separated 2 years, Should Financial or Support Motions Preceed Custody Agreement? beentaken Divorce & Family Law 5 04-18-2013 04:00 PM
agreement not worth the paper it's on? lovemy2kids Divorce & Family Law 8 06-02-2011 08:51 PM
how to deal with ex's offer to settle nick2009 Divorce & Family Law 19 09-20-2010 11:47 PM
Seperation Agreement Problems NightEcho Divorce & Family Law 5 10-09-2009 07:28 AM
When is a SEPARATION AGREEMENT an Agreement dvr Divorce & Family Law 1 06-15-2006 07:23 PM


All times are GMT -4. The time now is 09:49 PM.