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What are we each entitled to in our divorce settlement?

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consent order interest- help needed

  • debsfarley
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27 May 12 #333264 by debsfarley
Topic started by debsfarley
Hi
I agreed with my ex in Nov 2008 for a settlement figure which was 35% of house value at time £240,000.

He stated he could only get a mortgage for some of it and would i agree to staged payments. I agreed as I wanted settlement quickly to buy somewhere for me.

Payment of 65k was due by March 31st - 2009
there were then going to be further payments of
10k by Dec 2010
10k by Dec 2011

You guessed it - he never even made the 1st payment.

I have caluated interest for the full amount from April 1st 2009 till now as my understanding was - he defaulted on 1st payment so the whole amount becomes due. he then does not have the option to pay in instalements.

finally after 3 yrs 2 mths the house has sold - forced by the court - his solicitor is now trying to say he only has to pay interest on staged payments dates and it means i will be 7k down.

can i go back to court to enforce this?
why should i be out of pocket. to add insult to injury the house sold for 306k. my amount was fixed so i do not gain anything more only the interest.

He stands to gain over 200k.

please help/advice.
debs

  • dukey
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27 May 12 #333268 by dukey
Reply from dukey
Strictly speaking the interest is for the staged payments though it will be at the discretion of the judge, the judge is there to enforce the terms of the order, though you can ask for your costs of enforcement on top of the interest.

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