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Experience:  8 + years of handling Family Law, Divorce, Child Custody and Child Support cases
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how do I calculate child support in arrears with the interest

Resolved Question:

how do I calculate child support in arrears with the interest in texas
Submitted: 2 years ago.
Category: Family Law
Expert:  FamilyAnswer replied 2 years ago.

Hi and Welcome to Just Answer. I will be the expert that will be helping you today. I look forward to helping you solve your problem.

 

According to Texas Family Code (157.261), the State of Texas allows for interest to be charged on missed support payments. Interest accrues on the delinquent child support at the rate of 6% simple interest per year from the date support is delinquent. Payment considered delinquent if not received before the 31st day after payment due date.

Texas also allows interest to be charged on retroactive support. Interest accrues from the date the court order is rendered at the rate of 6% simple interest per year

Customer: replied 2 years ago.
what was the interest rate going back to 1976
Expert:  FamilyAnswer replied 2 years ago.

If child support has been owed since 1976, it will still be at an interest rate of 6% if calculated today.

Customer: replied 2 years ago.
The child support collector is charging me 9 and 10 per cent from 1976 to thru 2001. Is this correct?
Expert:  FamilyAnswer replied 2 years ago.
Yes, it would be.

2005 Amendment to §157.265 Clarifies Applicable Interest Rate on Child Support Arrears

The legislature unequivocally intended that the 2003 amendment to §157.265 was prospective and not retroactive. HB 678 was unanimously passed by the House and the Senate without one dissenting vote in the current legislative session. 1The bill specifically provides:

(e) child support arrears in existence on January 1, 2002, that were not confirmed and reduced to a money judgment on or before that date, accrue interest as follows:

(1) before January 1, 2002, the arrearages are subject to the interest rate that applied to the arrearages before that date; and

(2) on and after January 1, 2002, the cumulative total of arrearages and interest accumulated on those arrearages described by Subdivision (1) is subject to Subsection (a), [ i.e., 6%].

FamilyAnswer, Lawyer
Category: Family Law
Satisfied Customers: 16786
Experience: 8 + years of handling Family Law, Divorce, Child Custody and Child Support cases
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