Does interest accumulate on unpaid child support?

On behalf of Stange Law Firm, PC posted in child support on Saturday, October 15, 2016.

From a prison sentence to harsh financial penalties, you may face a number of challenges if you are unable to make child support payments. Furthermore, it is important to pay attention to other factors that could make your situation even more complicated, such as the accrual of interest on back child support. If you live in Jackson County, or elsewhere in Missouri, handling child support problems in a timely manner is vital.

According to the Missouri General Assembly, the state will charge you one percent interest on the child support payments you have missed each month. When you pay your back child support, no portion of the money collected will be considered an interest payment until the arrears have been paid in full. Moreover, interest will be charged on the final day of every month following your first missed child support payment.

If you are worried about being unable to continue making child support payments, you may have options on the table. For example, if your income has decreased substantially, you could be able to have your child support order modified and lessen the burden of making payments each month. With interest and the accumulation of missed payments, it can become very hard to get caught up once you fall behind on child support. As a result, it is important to address your circumstances immediately and avoid these complications, if you are able to do so.

Please keep in mind that this piece is not to be taken as a substitute for legal counsel.

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