Debts and a breakdown in a marriage.

jelindra

Hi,

Wondering if anyone could help me. My husband and I have just recently separated, we have a joint loan and a credit card (which is in my name but he had a secondary card which he used) which we defaulted on last year.
Does anyone know if I were to write to the banks that the loan and creditcard are with would they agree to split the outstanding balance 50/50 or does it need to be down through the court? Only he's moved back down to his parents house so he's given up his job and I dont want to be left having to pay all of the debts.

Many thanks
Jen

Donedoingdebt

I believe that regardless of his actions, the creditors are unlikely to agree to a split of the kind you're suggesting.

Currently, you are both liable, but if one of you refuses to pay then they are likely to chase one or both of you until the debt is cleared.

RAS

Unfortunately you are both wholly liable for both debts.

You need to ensure that you ask that every joint account or account where he has a second card is notified that

a) for joint accounts, all debits must be signed for by both signatories. Cancal any DDs first.

b) that they cancal any second cards on your accounts.

That will stop him spending any more.

The debts have to be dealt with as par tof the divorce proceedings.

jelindra

Thanks For the replies.

Looks like I'll have to write to the banks and let them know whats going on. I'm just glad I cut the cards up when we got into trouble with them.

Cheers

Ames

I thought that if there was a second card, it was the primary card holder who was responsible for the whole debt?

RAS

Yep, but the debt situation may be ironed out as part of the divorce settlement.

jelindra

Unfortunatley its going to be at least 2 years before a divorce can be agreed, but we discussed it between ourselves and decided we'd both pay 50/50 on any outstanding balances, and I'm going to see if I can take on the mortgage with the help of my mum.

catspaw

Having been thrugh similar to this, if you have agreed with your soon to be ex to split it 50/50 your solicitor should have a financial association form for you to fill in saying you split it 50/50 : this is for debts and any money in credit.

This also will stop him making any FUTURE claim against you ( ie you win money/close a huge deal at work/come into property)....mind you it also stops you claiming again him should the same happen to him.

Very useful as things are nevre evr simple during divorce.