Credit Card debt in divorce

Acorn3112

Need some help please. Am trying to finalise financial settlement with soon to be ex husband. He has 3 (I think) credit cards that are in his name, I was an additional card holder on one of them. Over the last 4 years he has accumulated a large debt across these cards - almost £40k I think. He is arguing that he can prove that the debt was for xmas/holidays etc therefore is family debt as I directly benefitted from the money spent. I was never made aware of the total of this debt until the final stages of our marriage breakdown - a contributing factor to me leaving. I knew he had the cards and often heard him saying he was moving £8k from this card to that card for a better rate etc but had never been told the total amount from all the cards. I was not spending money on the cards at all, I would ask him if we could afford to buy a certain thing...like football boots for one of our sons and he would order them. I need advice because there is a lot of debt and not much equity in the marital home - that he is still living in - all I want is half the equity of the house as we have 3 sons and I need to provide a home for them. He seems to think I should pay half the credit card debt. Help!!! Solicitors fees are too much to help sort this. I just need to know if I would be liable for this debt. Thank you xx

[Deleted User]

In terms of who the card company will chase for the debt, that is your husband, as the agreement is with him.

However, if you both choose to reflect it in the allocation of assets/debts, that is a separate matter.

InsideInsurance

Its his liability, in terms of having to pay the card companies, but assuming it was indeed spent on family things etc then it is part of the marital asset/ debt collective and normally would be factored in when dividing up the assets.

The fact you were ignorant to how holidays etc were being financed doesnt give you a get out clause now the relationship has ended. Asking "can we afford this" doesnt change anything either and many do think its normal to live life with debt and the "affordability test" is on the debt repayment not on the capital amount due.

Do you have any evidence he was spending this buying a lover diamond rings or week long stays at the Burj al Arab with them? Or is spending £3,000 a night on gambling websites? If not then its likely you will have to give him money/ assets to cover 50% of the debt

MEM62

Generally speaking both debts and assets will be divided equally as a starting point. You will need very strong reasons for any variation from that point and, unfortunately, not knowing will not be seen as a sufficient reason.


I assume that you will be expecting him to provide for your children. Unless he is earning very good money he will struggle with that and servicing £40K of credit card debt. If there is sufficient equity in the house to clear the debt then that may be the best way to go. You'll both then have to start afresh.


I appreciate that it's a difficult situation but divorce, particularly with children involved, often is.

lisyloo

So you have a joint home and 3 kids.
Why is he in the house and not you?

Please get some advice ASAP (a solicitor will normally give you a free half hour).
I have a feeling you'll be strongly advised to get back into the marital home ASAP even if the relationship is bad.

The CAB is another potr of call, but please get some proper advice.

My SIL moved temporaily into her FIL's when MIL was in hospital in intebsive care. She dragged it out a bit because relationship with her busband wasn't good.
He tried to say she's left voluntarily with her two children. He didn't succeed, but you don't need to mke any extra agro for yourself.