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History: Home UK Divorce Forum
Acceptance of debts (3 Posts)
Started By:
28 September, 2017 07:16PM
Acceptance of debts
jonsnow - 28 September, 2017 07:16PM
During our time together me and my wife returned to university as mature students and during which ran up some debt which we were paying off until she had an affair and split up. Shes currently in tge family home with the children and her current partner. With probably enough collateral to have paid off the debts. The debts were in my name as she had no credit hustory. After splitting i had to take out an iva as she was refusing to help. We are now at the stage of our divorce where we need to think about financial matters. She claims (although shes an history of making things up) as i took the iva out i accepted resposibility for the debt. Im stuck where my share of the collateral would go to the iva. I do not want to avoid paying the iva but i am in a situation where im being left with very little following the iva payment, Renting and cannot buy my own home for the next 5 years at least. can i get her to be responsible for her share.she filed for divorce claiming unreasonable behavior from me the first point being i took the loans without her knowledge when it was her who instigated them. We could sell the home or remortgage and clear all the debt so we both get a fresh start.

Edited 1 time(s). Last edit at 28/09/2017 07:18PM by jonsnow.
Re: Acceptance of debts
davidterry - 29 September, 2017 09:55AM
>>We could sell the home or remortgage and clear all the debt so we both get a fresh start.

You do refer to children who live with your wife in the former matrimonial home so whether what you propose would be regarded as reasonable very much depends on the figures. However, I cannot see any court thinking that it was reasonable to sell the former matrimonial home to pay off debts if, say, that resulted in the children having to live in rented accommodation.
Re: Acceptance of debts
jonsnow - 29 September, 2017 03:31PM
We do have 50/50 custody and im in rented and reading between lines she is looking to sell as i think shes trying for a new baby
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