Divorce
Ending the marriage- the process to decree absolute
Financial issues in divorce- ancillary relief
Divorce and Pensions
Children
Divorce advice for men
Divorce for non residents
DIY divorces
Costs
Timescale - quick divorce or not
Wills & divorce
Legal Aid
Injunctions





 

 

 

 

 

 

 

 

 

 

Miscellaneous
Prenuptial Agreements
Cohabitees
Judicial Separation
Changing surnames
Civil partnerships


Contact
Contact


Legal Stuff
Disclaimer
This is a UK based forum about divorce and related issues. Feel free to contribute. Your experiences or opinions may help others. The links on the left lead to basic information about most common divorce questions. The information opens in a separate window. You can use the search function to search the forum.
User: Log In Create A New Profile
Actions: New Topic Print View RSS
Search
History: Home UK Divorce Forum
Topic:
Whats classed as marital debt? (2 Posts)
Started By:
Date:
08 May, 2017 08:17AM
Whats classed as marital debt?
undlou - 08 May, 2017 08:17AM
My husband and I are currently trying to agree whats classed as marital debt. We all agree the credit cards and loans are, but car finances hasn't yet been mentioned.

Before we were married we bought two cars, one in his name and the other in mine but they were OUR cars. we got married 8 months after the purchases. When we separated he took the car in his name and I took the car in mine. He later sold his car and got £3k from the equity. My car at the time of separation had £13k left to pay but was only worth around £7k. Now the car has £7k left on the finance and is worth around £4k. Would my car finance be classed as marital debt or would it be up to me to pay it off?

also, when working out marital debt, is it the total amount of debt we had just before separation or only the joint debt remaining now? So say like my credit card was £10k just before separation but its now £5k, would the marital debt be £10k or only the £5k that's outstanding?

I hope I am making some sense.

Thanks smiling smiley
Re: Whats classed as marital debt?
davidterry - 08 May, 2017 02:28PM
1. If you are keeping the car then you would normally be expected to take the debt that goes with the car.

2. The relevant figure is what the debt is now which in your example is £5K.
Goto Topic: Previous Next

Sorry, only registered users may post in this forum.