He makes $160k a year. I will make $55k a year. We have two children. He will have a $2500 mortgage payment, but no bills besides that (except for car insurance, and electricity).

He told me this morning that he's having panic attacks about not being able to afford child support and wants me to waive it.

Otherwise, he will force us to go to court. What should I do? If we go to court I will be plunged into debt and so will he and we'll both have to move and I won't be able to live close to him for the kids sake as I won't be able to afford it with tens of thousands of dollars of attorney debt.

Should I just waive child support? Things will be really tight if I do, but I'm planning on getting a second job (waitressing) while he has the kids for his weekends.

EDIT: To clarify, he's saying that if I don't agree to waive child support, he won't sign the separation agreement and will make it a contested divorce instead of uncontested which will cost both of us dearly in time, money.

I can't afford the attorney's fees for a contested divorce, will need to pay for it using a credit card and won't likely be able to buy a tiny house to live in the same county as him because of the debt.

We live in a small, country town with literally no rental houses, so I'd have to move an hour away to the city and I worry the distance between us will be hard for the kids.