Collecting Back Child Support Arrears Faster
by Codi Parker
(Albuquerque, New Mexico)
I have an ongoing battle with my ex, and his level of stupidity never ceases to amaze me. That being said, here's the situation. My child's biological father and I were never married, and for all intents and purposes, he took off, left, moved out of town (take your pick) when my child was but a few days old. Almost two years later ( so he was "gone" for two years...not making payments, anything ) he decided he wanted back in my daughters life.
Hindsight is 20/20, but that being said I agreed, and he began paying child support. Long story short, my daughter is now almost 4, and over the past year I have been battling (in court/mediation/etc...) for arrears regarding the first 2 years he was out of the picture completely as well as adjustment for the correct amount regarding the past 2 years.
It was determined, and ruled on in court that he had both been paying me the wrong amount for the past 2 years, as well as he now owed arrears for the first 2 years he was gone.
That all being said, I have tallied up that he owes me in excess of $15,000 in arrears for both the non payment first 2 years, and incorrect payment for the second 2 years. The case, in all it's glory, has been presented to CSED (child support enforcement division) of New Mexico, where there are able, in addition to wage garnishment for his ongoing monthly child support, also account for and collect (eventually) the arrears as well.
My problem/question for you is as such. CSED will only garnish an "extra" 20% each month (extra 20% of his monthly obligations) which amounts to only about $86/mo. Doing the math, that gives him well over 10 YEARS to pay me back (as the arrears is money owed to me) the $15k+. This doesn't seem fair. While I understand it's not feasible to make him find $15k out of thin air, it's also not logical to me, that he get's well over 10 years to pay back this amount.
Granted CSED does enforce a compound interest to what's owed, thus the longer he doesn't pay it in full, ultimately the more he'll pay at the very end. I dare someone to tell a credit card company you want 10 years to pay $15k at a mere $86/mo....you'd have to have a hell of low interest rate, if not zero!
Is there ANY way to collect this money faster? Does child support count as a structured settlement and qualify for things like peach-tree or j.g.wentworth (cash now, your money, use it when you need it kind of place)? Any other thoughts or suggestions!