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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.


Joint debts I am taking on not declared to judge

  • Stroop
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03 Feb 08 #12661 by Stroop
Topic started by Stroop
Hi,

I am taking on £30,000 debt (mainly credit cards & personal loan), but this is not mentioned on the statement of information for a Consent Order. I am not using a solicitor. Should I write on "Other infromation" that "I am paying £600 per month towards £30,000 debt accrued jointly"?

  • DownButNotOut
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03 Feb 08 #12666 by DownButNotOut
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Stroop,

OK...well the Consent Order should be complete in terms of describing who is getting which assets, who is paying how much maintenance and for how long...and what is to be done with joint debts.

So I would say yes....you should include a clear statement that you are taking sole responsibility for a joint debt.

That is the plain objective answer.



On the other hand.....if the verbal deal is that you take on the debt....and yet the written agreement doesnt mention this, then that is to your benefit....and it is really up to the other party to spot this and insist on its inclusion in the agreement.

I'll leave it up to you what you actually do in this situation.

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