help splitting up with fiance

wizard3891

Hi guys I need some advice.

Unfortunatly me and my fiance are breaking up. we currently own a 50 % share of a shared ownership flat. We want to sell up but we have some debts. I took on her credit card debt as she couldnt get credit before. We each have a loan which is fine, I can pay mine off with the flat money. She owes me about £2000 of the card I think. I dont think this is going to be an easy split as there have been alot of rows etc etc. How will it work with all of our stuff, any remaining bills etc and this money she owes me. I really dont know where I stand

Please help me

bristol_pilot

As the split is non-amicable, I'm afraid that you will not get the money she owes you and you will also be chased by the bank for the full amount of any debt that is in joint names. Plus any debt in your own name of course. It's just not a good idea to have joint finances with any other person.

January20

I'm sorry to be so negative but if the credit card debt is in your name, then legally it is your debt so you'll only get money from her if she is willing to repay you.
And bristol_pilot is right, in the case of joint debts, the bank will go for the person they can catch easily and not care that it is joint debt, so again if she doesn't want to pay or does a disappearing act....

lynzpower

have you been able to speak to her about the financial side of the split as yet wizard.

I would be tempted to say, listen Ill just take 2k of your stuff, and then Ill pay off your debts. Obviously not as bluntly as that but it might be easier to swallow that way around, rather than going thourgh a whole rigmarrol of her paying you back over time etc.

TheWaltons_3

Worst case scenario, you can take her through Small Claims Court.

www.moneyclaimonline.gov.uk

If you can prove with receipts you have bought stuff for her.

Try being nice and smarmy if you want your money back - she will be inclined to stick two fingers up at you if you're treating her badly.

bristol_pilot

TheWaltons wrote: »

Worst case scenario, you can take her through Small Claims Court.

No you can't - the OP is liable for the WHOLE of joint debts. And any stuff that you bought for her will be said to be a gift. At least you didn't marry her.

TheWaltons_3

bristol_pilot wrote: »

No you can't - the OP is liable for the WHOLE of joint debts. And any stuff that you bought for her will be said to be a gift. At least you didn't marry her.

Not if he lent her the money to buy things. And she agreed to pay it back, which she obviously has.

And yeah.. at least you didn't marry her!!

lynzpower

TheWaltons wrote: »

Not if he lent her the money to buy things. And she agreed to pay it back, which she obviously has.

And yeah.. at least you didn't marry her!!

Well, no your wrong as you need to have a signed copy of a doc under the CCA in order to enforce it.

January20

TheWaltons wrote: »

Not if he lent her the money to buy things. And she agreed to pay it back, which she obviously has.

And yeah.. at least you didn't marry her!!

Yeah but he needs receipts/ written evidence doesn't he? Otherwise how can he prove anything?

bristol_pilot

January20 wrote: »

Yeah but he needs receipts/ written evidence doesn't he? Otherwise how can he prove anything?

Exactly. In fact he needs a signed credit agreement. Not a chance of getting any money off his fiance.

TheWaltons_3

January20 wrote: »

Yeah but he needs receipts/ written evidence doesn't he? Otherwise how can he prove anything?

That would work both ways too - how can she prove that it WASN'T a loan?