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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.


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are his debts mine?

  • doodles
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27 Jan 08 #12103 by doodles
Topic started by doodles
does anybody know if my ex2b credit card debts are my responsibility too?? 30k was used to buy cars both of which he owns. i have never signed for anything and the credit cards where in his name only???. he has cashed in 50k of his chares to pay them off to dispose of assets.

  • DownButNotOut
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27 Jan 08 #12106 by DownButNotOut
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Assuming you were married for a reasonable length of time ( > 5 years say) then....

pretty much everything is joint:

- half the credit card debts are yours
- half of "his" cars are yours
- half of the 50k in shares is yours


So him moving assets around is no big issue - it doesnt change the "Net worth" of these assets.

Him disposing of assets by spending them on a boob job for a new girlfriend would be a problem.

But if he sells 50k shares to pay off 50k credit card debts...you are no worse off.

  • Angel557
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27 Jan 08 #12107 by Angel557
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no no no don't say that dbno , my ex has ran up 27k on her since we split but officaly we were still married please don't say i'm liable for paying towards her kitchen , her holidays, the IVF and her hypnosis sessions.

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27 Jan 08 #12109 by DownButNotOut
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Debbe/Angel,

Ok a bit more clarity...cos i think your situations are different.

In the context of a divorce where there are significant assets to be divided up .... then the situation i described is valid and all the debts (whosever name they are in) and all the assets (whosever name they are in) are totalled up and the net assets (assets - debts) are shared out.


If there is no big pot to be shared out. Just debts accrued since the separation. Then the debts will typically remain with whoever ran them up.

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28 Jan 08 #12114 by TMax
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You have to prove that you had no benfit from debts ie holidays, cars, and so on, gather what evidence you can. Go to the credit ref agencies and get your file sent to you costs £2.00 thie will let you know what debts you have had in the last 6 years. wont show hubbies up but will show joint sigs.

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28 Jan 08 #12181 by doodles
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thanx v much for yr reply, where do i get credit ref agencies address from please? what do i tell them?? ps he also took 40 k of my shares that were in my name and wont give back.will i get my 40k back wen the finances are settled. im having to take him to court as he is stalling on every letter i send.

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