Could somebody please give me a little bit of a heads up on how I will stand financialy when I split.
I have been married 5 half years, i earn 26,000 my wife earns 23,000. We have a little boy aged 4. We have a mortgage of 75,000 on a house worth about 170,000. Have other debts totalling about 17,000.
Orignally I wanted my little boy to live with me but I don't want to drag it through the courts so have decided that he should stay with the x2b in the FMH, my ex would like to buy me out but I don't think she will be able to raise the funds, the other debts are in my name, will this leave me liable to them because at the moment all I can see is me being left with all the debt and with no way of getting my life back on track. Also will i have to continue to pay the household bill in the FMH and how much should I be looking at paying towards my son??