Ask Experts Questions for FREE Help !
Ask
    Browdibutt's Avatar
    Browdibutt Posts: 1, Reputation: 1
    New Member
     
    #1

    Jun 12, 2009, 04:27 PM
    Is there a new law in calif. 2008, pay principal first, then interest
    I was trying to find out about a new law in Calif. 2008 where when you make a back payment of child support, it goes towards the principal, and when the is paid, then you start on the interest. Is this true? It is a old case and it is all back support, no new support. Thank You
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
    Expert
     
    #2

    Jun 12, 2009, 05:03 PM

    It isn't a loan. You keep on paying (no interest) until you don't pay anymore. If you are dead beat, then you have to catch up.
    cadillac59's Avatar
    cadillac59 Posts: 1,326, Reputation: 94
    Ultra Member
     
    #3

    Jun 12, 2009, 06:27 PM

    I've never heard of anything like what you've described. So, no. I'd say this is not true (another urban legend somebody with no knowledge of family law probably made up).
    cdad's Avatar
    cdad Posts: 12,700, Reputation: 1438
    Internet Research Expert
     
    #4

    Jun 13, 2009, 07:08 AM

    The way it should be applied is that there is a minimum payment to be made and anything over and above interest for that given period would be applied to principle.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

* CALIF TAX - 2007/2008 for Dependent/Visiting Parents from India [ 1 Answers ]

New Year Greetings!! This is my first posting in this wonderful forum. I live in California with my wife and a newborn (Dec 2007). Green card status. Child Question - I believe, we can get tax credit up to $3000 with both parents working, living in a single home, married filing jointly....

What is the breakdown for the interest & principal on my auto loan [ 1 Answers ]

I had $32433.96 on 60 months with 8.75%.


View more questions Search