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

01202 805020

Mon/Fri 9am-6pm       Sat/Sun 2pm-6pm
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.


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.


Marital Debt

  • mr hook
  • mr hook's Avatar Posted by
  • Junior Member
  • Junior Member
More
26 Mar 15 #458657 by mr hook
Topic started by mr hook
Mr wife has run up 40 thousand pounds worth of debt on bank accounts and credit cards in both her married name and her Maiden Name (and many variations).
Most of her debt was spent on clothes, make up and personal effects. Without my knowledge or consent she took out a trust deed which later became a Debt arrangement scheme.
Am I in any way responsible for her self inflicted debts?
Thank you

  • Fiona
  • Fiona's Avatar
  • Platinum Member
  • Platinum Member
More
26 Mar 15 #458709 by Fiona
Reply from Fiona
The value of assets held in joint or sole names accrued between the dates of marriage and separation minus any liabilities on the "relevant" date (usually the date of separation) forms the net value of matrimonial property to be shared. So if the debts accrued after marriage during separation you wouldn''t be liable.

  • mr hook
  • mr hook's Avatar Posted by
  • Junior Member
  • Junior Member
More
27 Mar 15 #458732 by mr hook
Reply from mr hook
Many thanks for your reply,

The debts were accrued during our marriage. However, I had no idea that she had this debt. All the money she has spent was on lavish items for herself. Thus, am I liable?

Thanks you

  • USinUK
  • USinUK's Avatar
  • New Member
  • New Member
More
10 Jul 15 #463973 by USinUK
Reply from USinUK
Well, I am liable for a mortgage loan my STBX pulled out (without my knowledge), so he could buy stocks :huh:, so I would think so.
My lawyer is questioning it a bit tho, as STBX did this not even a month prior to me receiving a letter from his lawyer stating he wanted a divorce. Also helps that his lawyer screwed up and sent along a letter that was meant for my husband about if he put in an offer for a property, I could not make a claim on it if it was after our date of separation. This was dated prior to our date of separation :woohoo:.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11