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Liabilities and SM

  • somuch2know2
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17 Apr 12 #324528 by somuch2know2
Topic started by somuch2know2
Okay- first draft of proposal is through.
Overall, im happy BUT it suggests.

1. I will take on all liabilities
2. I will pay 500 SM due to discrepency in pay..

However- once my personal liabilities are added to the mix, the numbers look like this, And this does not balance out as I dont have enough, and food isnt even considered!!!! How can SM be justified when I cant live???

FIXED Cost per/ month
- 3 bed mortgage 1,159.77
- Council tax 222.29
- Personal Credit
- card debt/ OD 833.33
- Marital debt 1,666.67
- Water 25.00
- TV License 12.08
- Mobile phone 56.00
- Broadband 45.00
- Gas & electricity 116.67
- child maintenance 1,700.00
- Spousal Maintenance 416.67
- season ticket 421.67
- Parking at Station 121.33
- Perscriptions 8.50
- Optical 41.67
- Dental 33.00
Car
Car loan 466.00
Car insurance 20.83
Road tax 11.67
MOT 20.83
Redundancy insurance 68.00
Home contents insurance 20.00
TOTALS 7,486.98

  • MrsMathsisfun
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17 Apr 12 #324530 by MrsMathsisfun
Reply from MrsMathsisfun
Is this from her side?



Is the debt going to cost you £2400 a month (if so how long will it take you to pay it off) or is that the total debt?

Would you be getting a share of the house?
Was this the share you want?

Remember this is still a negiotation and its like playing cards. They arent going to show what they actually would accept to settle.

Take your time with the fiqures and decide what you want to do.

I noticed in other post some of your pay is a bonus is this guarenteed or related to proformance?

  • somuch2know2
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17 Apr 12 #324531 by somuch2know2
Reply from somuch2know2
This is my side- taking the 70K I want
Leaving her with 215
BUT assuming the joint debt, AND having to pay SM

I based all on a 1 year pay back period and you see teh results,.

Even if I get a smaller house and move the debt into the mortgage, I will still be struggling to make ends meet.

IF THIS GOES TO FH WILL MY LIABILITIES BE CONSIDERED?

  • MrsMathsisfun
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17 Apr 12 #324538 by MrsMathsisfun
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Could you manage with a smaller deposit for the house and increase your mortgage and therefore pay less sm?

I would think your liabilities would be taken into consideration. But not having been to court myself I dont know.

Also I assume this draft is based on what she has requested or is it just what the barrister thinks might happen?

  • hadenoughnow
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17 Apr 12 #324540 by hadenoughnow
Reply from hadenoughnow
somuch2know

Have you given your financial breakdown anywhere on the site? The ages, length of marriage, incomes one?

TBH it is very hard to discuss what is fair without it.

If you have posted it perhaps you could give a link to it .. or if not perhaps you would post it here.

Hadenoughnow

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17 Apr 12 #324541 by sillywoman
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Looking at the figures:

Do you need optical/dentist,cos if request that then she is entitled to do so too.

The mortgage payment seems astronimical.

How long is the SM to be paid for?
Does the CM include the boy, cos you wont have to pay for him?

The SM could be reduced to £200 if wife works 16 hours per week cos then she will get working family tax credit - think a judge would expeect that if at all possible?

I didn''t realise the costs involved with going to work!

Then of course if you are going to live with your girlfriend (and this could be implied) your living costs will be halved.

  • MrsMathsisfun
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17 Apr 12 #324545 by MrsMathsisfun
Reply from MrsMathsisfun
My calculations make the mortgage payment for a house worth approx £185k (255k with 70k deposit).

How much would a 3/4 bed house be in your area?

As to living with your gf, often its assumed that would mean housing costs would be halved but I am pretty certain thats not how it works.

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