I am new to the site and am preparing to tell my husband that I want to begin divorce proceedings. Before I do this I am trying to get my head around what it will entail & what I stand to loose. I would appreciate it greatly if you would read on & offer any advise you may have.
My husband is a compulsive liar which is why I want a divorce.
I bought my house with the help of my parents years before I met my now husband.
We have been married almost 5 years. He came to live with me around 7 or 8 years ago and continues to do so.
We are both 40. We dont have any children. We dont have any savings or pensions. We drive an old run around which was bought for us by my parents. We dont have any credit card debt to date.
We have borrowed money for my parents and they also lent me money to buy the house. Neither debt has been fully paid & there was not any written agreement.
I have made some cash repayments towards the house. My husband has never paid anything back to them for the house, there is no mortgage as such so he''s never paid any mortgage or rent so to speak. We have paid back some of the money they lent to us.
I deal with all house bills & they are paid from my account. He’s wages were paid into joint account and usually the credit card bills were paid from this account for things like groceries, holidays, clothing etc.
I earn aprox £25,000 & until recently he earned £50,000 per year. He recently lost his job through lying & is now out of work.
I am now paying for everything including giving him money to get around and supposedly look for work.
He has applied for new credit cards behind my back & I am worried I''ll be liable for any debts or loans he is getting without my knowledge.
My husband left me a few months ago and moved into a flat. However I took him back! He has since lost his job & is behaving more & more erratically!
I wondered if anyone can help me to gage how much the court will tell me I should give him, taking the above into consideration (I guess after selling my house, which is probably worth around £300,000). Or if we could try for the option that we both agree upon (the Consent Order I believe its called): how much is reasonable to offer as an out of court settlement. Is that the way its done?
Also if you have any experiences regarding the loan from my parents or repayments to them. Or any other useful advice would be much appreciated.
Sorry but I might be telling you bad news. Modern marriage is considered a partnership and each party is equal in the eyes of the law and who paid what wont carry much weight.
To answer your questions, the issue you may have is that if you have been living together for approx 8 years, your marriage might not be considered short and therefore the starting point for assets split could be 50/50.
Also loans from parents are often considered ''''soft'''' and therefore not classed as debt.
Your best bet is to see how much money he would be prepared to accept as ''''go away money''''