Seperated or divorced

Tryingtomakeendsmeet

Hi

Financially are my partner and I better staying seperated or get a divorce.

We have a lot of credit card debt, mostly in his name. Our break up is amicable and we are apart even by country (Scotland England )

His dad died young from a heart attack and my mum had a car accident and left us when I was a teenager.

Sorry to be morbid but if we lost each others incomes we couldnt clear debts or basically pay bills as weel.

I know its a strange set up but we cant chose how things work out,

Thanks

Steph

JustinCredibleGillespie

Whether you legally separate OR divorce, it would be good to consult with a solicitor and get something drawn up in writing. Just incase. Sometimes these things look like they're amicable until maybe a new partner arrives on the scene.

Sorry to hear about your marriage break up (((((((BIG hugs)))))

JCG

xx

snowleopard61

My ex and I had a life insurance policy in favour of each other after he remarried (because his new wife would need to inherit from him if anything happened as she was dependent on him, but I was dependent on him for contributions for the children, whereas if anything happened to me he would have to pay childcare costs so he could keep his job). Don't know whether you would be better off separating or divorcing but insurance might take some of the worry out of the situation? (Realise it's not ideal having to pay the premiums when you are in debt.)

Tryingtomakeendsmeet

Thank you

I appreciate the advice, thinking a divorce would be better. Tie up loose ends, formalise finances, if either of us went I worry forthe kids as the other would have all the debt.

if we divorce is it shared or does it depend on joint applications or does the one left just take the debt on

sorry for the questions but so worried.

snowleopard61

I'm afraid I really don't know the answer to that - maybe this reply will bump the post so that someone who does know sees it - but I would have thought a good first port of call would be the Citizens' Advice Bureau, as they're really good at dealing with all sorts of issues relating to debt. (Not sure if there's a Scottish equivalent but hopefully there is if necessary.)

Sorry you're having a tough time all round, and I hope things get better.

Tryingtomakeendsmeet

Thank you Snowleopard

seems from CAB it might be financially better for us, but particularly the kids to be as single parents, also if one of us was left with debt.

sad, but seems true, need to work up to telling them.