A divorce will not only affect your lifestyle and standard of living, but also your ability to meet your financial obligations. The inherent problem with divorce is that most families go from a two-income household to a single-income household. In almost every case, someone’s lifestyle is directly proportionate to their income. This reduction in income is felt whether you make $20,000 a year or $200,000 a year. While some of your bills will also be reduced, many fixed costs will remain the same. For example, assume you have the following monthly bills before filing for divorce: $250 car payment $1100 mortgage...
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