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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


MPS

  • coasttocoast
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03 Aug 12 #347195 by coasttocoast
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Hi, my divorce has been ongoing for the best part of a year and we still have no resolve regarding finances.
Can anyone tell me if ex was to apply for MPS if it were sucessful firstly would the costs be awarded to her and secondly could she have the mps payments backdated to the start of proceedings? Incidently we both earn similar incomes.

thank you

  • hadenoughnow
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03 Aug 12 #347201 by hadenoughnow
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If your incomes are similar she will not get mps. Do you have children and are you paying cm?

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03 Aug 12 #347204 by coasttocoast
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The incomes are similar and their is no case for child support as the child is now in full time employment and has been since the beginning of the year. Child will be 18 in a couple of months.
I am currently cohabiting with my partner which obviously brings my outgoings down.

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03 Aug 12 #347211 by hadenoughnow
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I guess then the next question would be whether stbx is able to afford mortgage etc if you have one. If your outgoings are low and there is a joint mortgage then you could pay some to protect your interests without needing to be dragged to court.

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03 Aug 12 #347215 by coasttocoast
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Stbx claims she cannot afford mortgage. My real worry is whether or not if a mps claim was successful would a judge backdate payments to the start of the divorce application.Is there not a case that if she has managed for the last year without assistance why would she need to have waited till now to make a claim?

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03 Aug 12 #347218 by hadenoughnow
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Maybe she has used up savings or got an overdraft?
If it is a joint mortgage then you are liable if she defaults. It is possible, if your living costs are lower and you have the means that a court would order you to pay. Why not avoid the costs and offer to pay a bit until the FMH is sold?
It may also be worth investigating a payment holiday or going interest only.

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03 Aug 12 #347219 by coasttocoast
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I tried getting the mortgage interest only at the start of the divorce but the bank refused. When you say avoid costs do you mean i wil be hit with a costs order from her solicitor? Up to now i have been self repping. We are currently at the stage where we have had first hearing and waiting to be notified of the date for FDR. The judge did say she expected offers and negotiation to have taken place before the next hearing.

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