I have decided to leave the FMH and move into a rental property. The solicitor has given me the green light as it won''t change much.
I was calculating all the bits and pieces that I need today to move in, and will need at least £1.5K to equip the house so that I can look after the kids when I have them.
I was planning on borrowing the money from my parents, but on thinking was wondering if it may be better to throw it on a credit card to show as a debt.
I know it''s not a lot of money in the grand scheme of things, but I would rather it count against my liability when it comes to the crunch, rather than still owing it to my parents and the liability not be recognised.
I had to kit out a new rental home after I ended my marriage. I spent my £3000 savings, and one year later I had to borrow £2000 to replace my car, which I got from my parents. On reflection though - now that I''ve read what happens during Financial Orders - I should have purchased the furniture on credit card and spent my savings on the car. At least then I''d have a genuine legit debt to demonstrate.
Hi Bob, Sorry you find yourself in this situation but I am sure you will get good support on here.
I am not an expert but if divorce proceedings have already begun I don''t think furnishing the property using a credit card will be classed as "A debt of the marriage."
The housing needs of the children are priority & if they will be mainly resident in the FMH, I think they are deemed as met & the rest is done by mutual agreements, sorting out child maintenance & visits etc.
Have you looked at local online selling sites & local ads in shops & papers for most items to keep costs low? You can look at replacing them at a later date when finances are agreed & things have settled into a new routine.
If I am wrong about the credit card v family & housing needs someone will be along and correct me. Good luck.
its not often this would be taken into account, been there done it.
I got most of my stuff from heart foundation shops, it was ok for while I was renting, you can get some good stuff.
I had to divide the cars up when I left and pay her a couple of grand, I didnt get any help with settign up a new home for me and my kids though!
I guess it depends on whats going to happen back home, if she is looking at claiming sm etc then maybe its worthwhile?
you will prob be paying cm anyhow.
I would go one better than a credit card to make it a definate LOAN from the bank for £1500 rather than on a credit card.
Money from parents is completely and utterly dismissed in divorce as a liability as a soft loan and you haven''t god a snowballs chance in hell of getting it back.
Credit card balances are not treated much better.
A LOAN from the bank is the best possible way that the opposition cannot dispute.Here''s a loan agreement for £1500 that I had to borrow to finance the furnishing of a flat for when the kids come.
GET A LOAN!!