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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.

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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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"Joint" debts in my name only

  • steveng
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23 May 12 #332416 by steveng
Topic started by steveng
Hi,

My wife and I currently have some debts which were taken out in my name only - one consolidation loan plus a couple of credit cards.

I was just wondering where I stand on these - is it the case that, because they''re in my name, I just have to accept that I''m responsible for them? My wife does currently seem to appreciate the burden that will be on me and, as such, is not sticking the arm in over maintenance, but I''m concerned that in the future she mightn''t be so accommodating.

Thanks,

Steven

  • Northernboy
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23 May 12 #332495 by Northernboy
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Well when I left three months ago we had £12 of debt 6k in my name (although marital) and 6k joint so she doesn''t have to pay any of mine but does have to pay half the joint so I''m left with 9k her 3k. We''ve not started the divorce yet so I''m hope when we start it''s gets put back together and classed as martial debt. I''m hoping but not holding out for it.

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23 May 12 #332505 by happyagain
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In theory these will be classed as joint debts as they occurred during the marriage. However, if your wife claims to know nothing about them it will be down to you to prove otherwise. This might include bank statements showing repayments from a joint account, or the actual loan itself being paid into a joint account.

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23 May 12 #332536 by steveng
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Thanks for that. The debts were all paid into a joint account and it could definitely be shown that she was aware of them as one of the credit cards was used initially to help her set up her business. I don''t think it''ll get the stage of her denying any of these things, but you never know. I never thought we''d be were we are!

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