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Marital Debt

  • mr hook
  • mr hook's Avatar Posted by
  • Junior Member
  • Junior Member
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
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  • Platinum Member
  • Platinum Member
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
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  • Junior Member
  • Junior Member
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
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  • New Member
  • New Member
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:.

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