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.

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.

running up debt

  • everythinghappensforareas
  • everythinghappensforareas's Avatar Posted by
  • New Member
  • New Member
08 Jul 15 #463885 by everythinghappensforareas
Topic started by everythinghappensforareas

My husband left in January and got himself a 0% credit card pretty much straight away with a credit limit of £10000. He has just told me that he has maxed this already. He has also borrowed other money. I know that he didn''t pay his council tax as I got a court summons as that was in joint names.

I am really concerned what effect this could have on me. I did all the finances when we were together so he isn''t organised with this and it worries me.
I also have a ltd company and I''m worried about whether his debt could effect my business.

Are we still financially linked until we get a divorce? Is there anything I can do to protect myself.

thanks in advance

  • LittleMrMike
  • LittleMrMike's Avatar
  • Platinum Member
  • Platinum Member
13 Jul 15 #464105 by LittleMrMike
Reply from LittleMrMike
I see you havem''t had a reply, but wiki isn''t really a debt forum.

My immediate thought is what would happen in the event of his becoming bankrupt.

If that happens all his assets, with some exceptions, vest in the trustee - therefore they would not be available to you.

On the other hand, if you get your financial order first, and becomes bankrupt later, my understanding is that the Court order will take priority.

For this reason alone, I suggest you might see a solicitor and get your divorce and application for financial order in as soon as possible. A solicitor may be able to suggest other courses of action, like freezing orders, but this isn''t really my scene, I used to be a housing specialist.


Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11