When it comes to matters of child support, it`s important to make sure you have everything in writing. One of the tools that can help ensure that child support payments are made on time and in full is a binding agreement with a child support agency.
A binding agreement is a legally enforceable contract between the parent who is required to make child support payments (the obligor) and the child support agency. The agreement outlines the terms and conditions of the child support payments, including the amount and frequency of payments.
There are several benefits to having a binding agreement in place. First and foremost, it can help ensure that the obligor makes timely and complete payments by establishing clear and enforceable consequences for non-payment. Additionally, a binding agreement can provide a sense of security and stability for the recipient parent and the child.
To create a binding agreement, the obligor must typically contact the child support agency and request to enter into an agreement. The agency will then review the obligor`s income and expenses to determine the appropriate amount of child support payments. Once the terms of the agreement have been finalized and signed by both parties, the agreement becomes legally binding.
It`s important to note that a binding agreement can be modified in the event of a significant change in circumstances, such as a job loss or an increase in income. However, changes to the agreement must be made through the child support agency and approved by a court. Changes made outside of the child support agency may not be legally enforceable.
If you are an obligor who is required to make child support payments, it`s important to consider entering into a binding agreement with the child support agency. A binding agreement can help ensure that you make timely and complete payments, and can provide peace of mind for both you and the recipient parent.