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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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re debt liability,personal v matrimonial.

  • topaz
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18 May 08 #22800 by topaz
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my x had accepted full liability for the remaining mortgage on MH as it was raised to buy him something for his own use.Now x has paid off the mortgage by taking out a personal loan to do so,thus changing it to a personal debt.this has been deducted from the Marital pot as it reduced his personal assets.therefore reducing amount to be shared by over ten thousand pounds.my personal loan for my use I did not get it taken Out of pot as it was my responsibility alone, can the same apply to his personal loan or what? Am I being very stupid but it seems I've been done for half that amount.in the figures my sol has deducted it from his assets and my share is reduced, is he correct?HELP. need an answer ASAP!

  • loobyloo
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18 May 08 #22806 by loobyloo
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Topaz
this is what happened in my case
although asset pot healthy i accrewed personal debt through marriage... not extravagance but whilst married affordable, of course since split all spiraled out of control
i was ordered to prove how debts accrewed so try getting 7 years statements impossible i know i and my sol tried relentlesly
so..... the fh and my directions not met as only a few companies obliged... we were then to return to court with an order served on creditors to attend and fees of approx 50k
the outcome debt about 40% taken into account unfair i know but suppose i wll find a way to manage outstanding debt
also be warned as my personal loan company put charge on house... so loans unsecured... really is untrue unless you dont own a home
it really is a grey area but my x2b had nothing else to throw at me only my debt so he was obsessed to the point i thought my fh was the bankrupcy courts ha ha
so trying to get justice over debts is very dependent on proof
my best to you
looby

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18 May 08 #22812 by topaz
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hi Looby,weve got a bit muddled up here.I'm at point of clearing my loan,few hundred left, cleared by august, but it wasnt deducted from my personal assets, as I agreed it was my responsibility.he's changed his fully agreed liability for the whole mortgage marital debt to a personal debt by paying off mortgage with a personal loan he has not agreed to it being his sole liability therefore it is being deducted out of his personal assets total and by doing that he's effectively reduced his assets which would be part of his settlement, so he'll get more of the cash from the pot to make up his share.pot has been reduced by 23,000 but he'll still retain ownership of the "item" he bought for himself with the mortgage money.think I've been stitched up good and proper as I'll end up with less cash settlement now.Am I wrong but this is what my sol has written ,pot is now reduced by 23,000.so I get 13000 less thereabouts from house sale figure.

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18 May 08 #22832 by topaz
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topaz wrote:

hi Looby,weve got a bit muddled up here.I'm at point of clearing my loan,few hundred left, cleared by august, but it wasnt deducted from my personal assets, as I agreed it was my responsibility.he's changed his fully agreed liability for the whole mortgage marital debt to a personal debt by paying off mortgage with a personal loan he has not agreed to it being his sole liability therefore it is being deducted out of his personal assets total and by doing that he's effectively reduced his assets which would be part of his settlement, so he'll get more of the cash from the pot to make up his share.pot has been reduced by 23,000 but he'll still retain ownership of the "item" he bought for himself with the mortgage money.think I've been stitched up good and proper as I'll end up with less cash settlement now.Am I wrong but this is what my sol has written ,pot is now reduced by 23,000.so I get 13000 less thereabouts from house sale figure.

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