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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.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Credit card debts

  • constancem
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16 Mar 14 #426119 by constancem
Topic started by constancem
My stbx has referred several times to having had to pay for my expenditure on CCs while we were married, since parting. I was the second user on the cards. In addition I had my own CC. Would a judge just look at the whole debt or would they want more detail about the expenditure? From old statements I have, spending has mostly been on d2d items for the kids, shopping etc as looking after the ''domestics'' was my responsibility (in an implied way) while we were together.

  • happyagain
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16 Mar 14 #426122 by happyagain
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If the cards were used to pay for family based items then I would suggest this is a debt to be shared between you and not the sole responsibility of either.

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16 Mar 14 #426126 by constancem
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Hi, Thanks ''happyagain'' for your answer. Does either party need to prove in detail where the money was spent. We have been apart for 2 years and do not have statements going back that far. Also, can you clarify share? Many thanks.

  • sulkypants
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16 Mar 14 #426139 by sulkypants
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The bills for these cards would have been sent to the card holder they can request copies if the bills going back six years so there will be proof/evidence of what the money was spent on


As you say it was for d2d living for the family household I would not panic the debt is not in your name however some if it can be optioned to you as both of you had a card and you received some benefit from it even if was just d2d items you both used them.

If he is going to produce a copy of the bill and demonstrate you were extravagant you may end up having to repay a set amount especially if it was something he did not receive any benefit from.

  • BetweenARock
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01 Jul 14 #438328 by BetweenARock
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Could a large amount of debt be offset against a positive financial situation?

IE, Ill take of this debt that was accrued on d2d living expenses in exchange for a greater share of the family home / Keeping your hands off my bonus.

And does anyone know if debt levels are taken into consideration when a Consent Order is looked at?

thanks, sorry for the hijack.

  • .Charles
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01 Jul 14 #438334 by .Charles
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Assets and liabilities are taken into account when a court considers a proposed settlement.

All assets and liabilities are placed in the matrimonial pot then divided according to need. It is a common misconception that people try to reserve a asset and split other assets e.g. we will split the house and I keep my (massive) pension because it''s mine.

Post marital assets and liabilities can be set to one side if this is appropriate but all depends upon your individual circumstances.

Charles

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01 Jul 14 #438339 by BetweenARock
Reply from BetweenARock
Thanks Charles.

We are trying to sort this out with the minimal of court/sol intervention.

So effectively, She may be liable for some of the debt, as well as entitled to some of the assets.

there''s not a great deal of assets other than the house really. None that I want anyway

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