A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


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.


negative equity debt

  • hellathome
  • hellathome's Avatar Posted by
  • Senior Member
  • Senior Member
More
09 Nov 12 #365526 by hellathome
Topic started by hellathome
hi. while married we jointly bought a small buy to let portfolio which is in severe negative equity. ex is suggesting all this debt is mine cos i managed the prooerties and chose them. both of us are on the deeds. he says he wants the deposit that he paid from his bank account back and i i am responsible for 100 % of negative equity. is this all matrimonial debt and a judge will agree we are jointly and severably responsible? any advice or thoughts...

  • Lostboy67
  • Lostboy67's Avatar
  • Moderator
  • Moderator
More
09 Nov 12 #365529 by Lostboy67
Reply from Lostboy67
Hi
My initial thought is that he is barking mad to think he can just get his deposit back and walk away from the debt.
The negative equity obviously needs to be taken into account with the rest of the marital assets

LB

  • hellathome
  • hellathome's Avatar Posted by
  • Senior Member
  • Senior Member
More
09 Nov 12 #365531 by hellathome
Reply from hellathome
we have an fdr approaching but i dont fully understand what it is or will happen. do i have to come to an agreement on that day. can a judge make a final order then if he still refuses to sell th MH?

  • maisymoos
  • maisymoos's Avatar
  • Platinum Member
  • Platinum Member
More
10 Nov 12 #365544 by maisymoos
Reply from maisymoos
The FDR is really about trying to negotiate a settlement between the two parties, possibly with some direction from the judge. If you provide more details wikis may be able to offer some help.

How long were you married including cohabit ion?
What are your ages?
Are there children and what are their ages?
What assets are there and their values including equity/savings etc?
What debts are there including negative equity?
What are your respective incomes including benefits?
What are the pension values?

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11