Form E - Finances

Quick Question

I have not submitted form E yet I have 4 share schemes worth £5000 I have credit card debt of £3000 in set up costs as I left marital home, needed bond, furniture etc, can I cash in the schemes before Form E disclosure and pay off the debt or does the debt count on the Form E as joint even though it was run up after seperation.

Suppose i want to know at what point the "pot" is filled from - marriage was 16 years ta

solarcarrot wrote:

Quick Question

I have not submitted Form E yet I have 4 share schemes worth £5000 I have credit card debt of £3000 in set up costs as I left marital home, needed bond, furniture etc, can I cash in the schemes before Form E disclosure and pay off the debt or does the debt count on the Form E as joint even though it was run up after seperation.

Suppose i want to know at what point the "pot" is filled from - marriage was 16 years ta

Debt does count though on Form E you can disclose it as either soley yours if that's what it is or as joint debt? in my case even though I considered my debts to be joint I took full responsibility as they were in my name.

As long as you disclose honestly what your finances at the time of signing the form E I cant see it will matter if you do clear the debt before hand. You will have to provide 12 months worth of bank and savings accounts statements anyway. you only have to disclose assets worth more than £500. would sit down and work out which set of circumstances better suits you financially according to the way you fill in Form E with debt and with debt repaid it's probably not goin to make much difference. But they can't take of you what you haven't got if you do repay the debt. I suppose it may be better 2 clear the debt before hand to reduce any possible argument about when you acquired the debt.

Cheers Jacko

My solicitor "translated " the information in Form E and the answers given to questions arising from Form E into two A4 "at a glance sheets" - one headed Capital Assets and one Income Needs - I suppose for the District Judge.
I first saw them at FDR - I have since found there were significant mistakes including random non-existent pension CETVs.
I don't know if producing "crib sheets" is common practice amongst solicitors but I think it's worth checking for yourself before they are relied on in court.