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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Please help! Need some advice

  • niallyboy
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19 May 07 #306 by niallyboy
Topic started by niallyboy
Hi,
Almost a year ago, my wife who I loved dearly walked out.
At the time she said that she didnt want anything (including all the debt and the house) but now she is looking for money from me, before she signs anything over to me(which she did agree to).
I know I am right when I saw she is intitled to 50% of everything but does that include all the debt that I am currently in, i.e. all the mortgage payments made by myself in the seven years that we stayed together and all loans taken out togeter?
I dont want to hurt her in the pocket but the only thing that has kept me going over the past year is knowing that the house (which i am staying in and still paying for) was mine and if i sold it I could make a real go at another life for myself.

All the feeling that I had a year ago, I can feel coming back.

Thanks for reading.

  • wikivorce team
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19 May 07 #307 by wikivorce team
Reply from wikivorce team
Niall,

The 50:50 split is not a hard and fast rule but not a bad place to start.

A great many factors affect how much each party gets: how many kids, who looks after them, your income, her income, etc

These days housewives are given full credit for their contribution to the marriage - so the fact that you paid the mortagage for 7 years is actually irrelevant.

She is entitled to a fair share of the current assets (e.g. house price minus mortgage minus any current debts) and if you earn significantly more than her then she could also be due maintenance payments.

regards

wikivorce

  • bathsheba
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23 May 07 #365 by bathsheba
Reply from bathsheba
The sad fact is that divorce is really only about two things: one is money and the other is children - if there are any. People say all sorts of things in the heat of the moment and your wife possibly meant it when she said she did not want anything from you when she left you a year ago. In the cold light of day though I suspect that she has realised that she is entitled to a share of any property/assets you have and will act accordingly, so brace yourself and find a solicitor.

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