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.


Debt incurred in marriage

  • Mofunda
  • Mofunda's Avatar Posted by
  • Junior Member
  • Junior Member
More
09 Oct 15 #467844 by Mofunda
Topic started by Mofunda
Hi,

I have been separated from my wife for over 3 years.
We have just sold our house and trying to agree the equity splits.

During our marriage I incurred a number of debts in my sole name.

1. Loan for Kitchen Refurbishment
2. Finance for family car
3. Credit cards fro family spending such as holidays, food shopping etc.

Following our separation I entered in to an IVA as my debts were unmanageable.

How do I stand on the debts that we incurred Together but in my sole name only?

Thank you

  • LittleMrMike
  • LittleMrMike's Avatar
  • Platinum Member
  • Platinum Member
More
09 Oct 15 #467848 by LittleMrMike
Reply from LittleMrMike
You may be lucky. If debts were incurred for the common weal, e.g. a home improvement, as you say, the Courts might well regard to debt as joint.

Any debt incurred for the sole benefit of one partner ( e.g. a piano for me when me wife was not a pianist ) would probably be my responsibility.

LMM

  • Mofunda
  • Mofunda's Avatar Posted by
  • Junior Member
  • Junior Member
More
09 Oct 15 #467849 by Mofunda
Reply from Mofunda
Thank you.

I understand your point about the car (I assume that was your piano reference)

I was the only driver and I used the car for work (I needed to commute and travel as part of my job).

I was by some margin the chief earner and for approaching 2 years the only earner.

I did not benefit from the sale of the car post separation as it was eventually scrapped with a value of £150.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11