I am in the process of filing for divorce from my husband.
We have been together 10 years and married 7yrs 2 months when he moved out (his choice)
I owned my own house with mortgage when we met (worth £220K with a mortgage of £170K approx) with no debts.
He lost is house in a repossession and came to me about £50K in debt.
He paid this off over a 6 year period with a payplan programme so his credit rating was poor.
I bought another house 2 months before we married in 2011, and put down a £50K deposit (my sole money) and house in my name only.
Unfortunately due to living off just one income for 6 years (mine) I am now in debt to the tune of approx £30K and he has no debts hardly whatsoever as everything had to go in my name due to his bad credit rating.
My house is currently worth about £300K and was bought for £225K.
He is saying that he will take £10K and walk away, do you think this is reasonable, considering he came to me with no house and a debt of £50K. And also what would he actually be entitled to?
I'll never be so stupid again, and I'm thinking the best thing is to give him the money and run!
You may wish to post this in the Financial Settlements section in order to get more relevant responses.
My gut instinct would be \"bite his hand off\".
It could easily cost you that much and more if it goes down the court route.
It's much easier to get more firm opinions on financial settlements when the marriage has been either long (no definition, but say over 15 years) or short (again, no definition but say less than 2 years) because the notion of what's fair is easier to fathom - rules of thumb being if the marriage was long (and therefore current situation of both parties is a result of the marriage and even pre-acquired assets are eligible for allocation between the two of you) then the starting point is 50/50 and if the marriage was short then you both walk away with what you came in with.
However, your marriage is, I guess, 'medium' in length and that's why I think you're longer term better off settling now for 10K rather than taking your chances and (believe me, no matter how strong you think you are) suffering considerable stress for who knows how long.
My concern for you is when he goes to get legal advice - of course, he'll be told that the marriage is verging on getting to be a long one and that he is entitled to more than just 10K.
Janie, I've moved your post to the financial settlements section, so you can continue posting on this thread as it already contains lots of relevant info, both for others to help you with your questions, and responses from others.