Paying a Lump Sum Child Support Settlement

If you owe back child support and you can settle for a lump sum, should I pay it or see if there are more options? It is a large lump sum.

By Mike

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May 14, 20130 found this helpful

If you are not charged any interest or penalties for doing so you should pay this obligation over time.

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May 14, 20130 found this helpful

If you can do the lump sum, do it. Most states require (no exceptions) that interest be collected on past-due child support, so you would get out from under the obligation faster by doing the lump sum. Be sure to get the paperwork signed off and keep copies forEVER!

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May 14, 20130 found this helpful

Hi - my neighbor says - been there, done that.
First thing to consider - are you facing a jail term if not paid by a certain time?

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I live in Florida and they just love to give people a short length of time to pay back support or else!

Since I have seen several cases of things like this, I would say you definitely need an attorney if this is a large sum as you want to be absolutely sure this is your best deal and that it cannot come back later to bite you!

That said - you should be very careful of what you agree to as these things are very tricky and do not always cover all bases.
Best bet - get an attorney!!!

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May 15, 20130 found this helpful

If you are behind, pay it. There is a child waiting for you to make up your mind, Just do it.

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