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Pre/Post marital debt

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dd1232
Posted by
Premium Member

03 Feb 24 #522523 by dd1232

Topic started by dd1232

In financial remedy proceedings I know the starting point is 50/50, but Im confused as to how pre and post marital debts are dealt with. I understand that pre marital debts are deducted from the total assets before everything else is taken into account. If only one party has incurred post marital debt (day to day living expenses, and CAO legal fees) would the court normally take their debt into account when dividing the assets. If it isn't taken into account it would mean the housing needs of the party with post marital debt wouldn't be met.

WYSPECIAL
Moderator

04 Feb 24 #522524 by WYSPECIAL

Reply from WYSPECIAL

It would depend on why the debt was incurred and who it was owed to.

Big difference between a debt incurred for a rent deposit compared to a holiday or new car.

Soft loans from parents that were really gifts but are suddenly considered marital debts are usually disregarded.

If you genuinely have a need for day to day living costs it may be worth considering applying for maintenance pending suite.

dd1232
Posted by
Premium Member

04 Feb 24 #522526 by dd1232

Reply from dd1232

Thank you

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