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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 legal advice on a fair financial settlement?

We offer a consultation with experienced family solicitor for a low fixed fee. You will receive legal advice and a written report outlining your legal position and setting out what a fair settlement would look like based on your individual circumstances.


Divorce Calculator

  • Emalou33
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18 Feb 08 #14259 by Emalou33
Topic started by Emalou33
Hello,

I am new to the site and have just run the calculator and got two very different answers.My husband of 7 years, partner for ten left me in Feb 07 for a woman at work, he earns £55K plus £8.5K car allowance and lives in a rented flat for which he pays £500 per month. Just before he left me we renogtiated our mortgage and he chose a ten year fixed rate deal which I am now saddled with, the rate is good but if I sell I have to pay £10.5K, so I am trying to manage the house but am on £31K and do not earn enough to cover the house and food etc and so I have got into debt which has made the position worse. I have offered my husband to move into the house and that I will find rented accommodation but he sayd he cannot afford it!!!

All this is made worse by the fact that a year on I still love him, but he is being a total shit over money.

Our daughter is at private school, we pay £600 a month, half each and he then gives me £500 to cover our duaghter. This may seem like a reasonable amount but as I am stuck in the house and the running costs are high I am just drowning in it, I am taking him through the court process, Decree Nisi will be pronounced tomorrow and on the 29/2 maintenance oending suit hearing takes place, with the main ancillary relief hearing in May - does anyone have any advice re the calculator, or what they think a likely financial outcome could be??

Thanks so much

Emalouxx

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18 Feb 08 #14263 by dukey
Reply from dukey
Hello emalou
Wellcome to the site help is at hand it sounds like selling the house may be the best answer fixed term penaltys reduce year by year so check the current posistion is it 10.5k now?
The calc gives two possable outcomes and i am advised that the higher total is closer to the actual outcome.
If your husband will not help and you are getting into debt as the court for a form to claim interim payments from your H until AR is finished, im sure others with more expiernce will answer.
dukey

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18 Feb 08 #14265 by Emalou33
Reply from Emalou33
Thanks for the reply.

I have a maintenance pending suit hearing on 29th to try and stem the current issues re debt, and I have checked on the 10 year fixed rate and the penalty does not decrease. Trouble is the rate is 4.98% and if I move to a new house I will be paying higher interest in line with the current economy and so will not be able to afford to buy a house in the area I live in!!! i kinda feel like I am in a cage with loads of doors but I can't open any of them enough to push my way out!!! In some ways I would love to be rid of the house as every room holds a memory, but it is very convenient for friends/school/family and a nice home to bring up my daughter in. I have thought about lodgers but am a little nervous with a 10 year old in the house, and about giving up my private space...thanks for taking time to answer me,

Emalou

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18 Feb 08 #14281 by dukey
Reply from dukey
Hello again i also have a fixed term deal not as good as yours though, with mine i have three months from paying it off to takeing out another in order to aviod penalties check with your provider you never know

  • DownButNotOut
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18 Feb 08 #14283 by DownButNotOut
Reply from DownButNotOut
Emalou,

If the 2 very different answers you refer to are the two maintenance figures then the one based on actual outgoings is usually more reliable.

The other one the software kind of guesses what a sensible budget is for each party.

The two figures are pretty close for most people.

They can be a wide variance between the figures in cases where the actual outgoings are 'unusual'.

One example is where one spouse is being left a mortgage free house in the capital settlement. Because then their actual outgoings are articifically low (i.e. no rent or mortgage). Whereas the other party may rent still.

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19 Feb 08 #14375 by Emalou33
Reply from Emalou33
In my case, the reason I think the outgoings are so different is that I have been left with nearly all the debt and have gotten into more debt because of H leaving.
He has clawed back his overdraft from -2K to plus 2.5K in his account over four months while i have been paying for food shopping on my credit cards. Anyway good bit of news I just went to the Decree Nisi pronouncement and the judge awarded costs against my husband, so that is one good thing.

Thanks for the advice

Emalou:)

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