Hello everyone, we have been married for 7 years but i am about to proceed with divorce. My wife and i are now talking and she has admitted to a £4,000 credit card bill that she has (i didnt know about it). The credit card is in her sole name.
I have no credit card debts.
What happens with this debt as part of the divorce? Is it split 50 / 50 or does my wife have to pay the debt off?
I had a similar problem albeit I was married a lot longer than you - it should be deemed as part of the marital pot - but this didn''t happen in my case. I have no idea why ? Doesn''t help you much but I think you''ll find most people will say all assets, all debts etc.. either in joint names or sole names should be put in the pot and then divided. There again if it goes to court it''s the judges discretion!
Depending on what the credit card was used for it could be argued that your wife should be solely responsible for it. Was it used for day to day living or did she use it for luxuries. Also does she expect you to contribute towards the debt or are you assuming that she will?