advice for divorce/settlement

Sambella

Funny thing is if she had kept up her good job they would have easily been able to afford childcare, perhaps have bought a more expensive house and after xx years a smaller mortgage or even no mortgage.

Then the resulting share from divorce then may have been adequate to rehouse each party... she would have been in a better position then.

Even if she gets given the entire house from this divorce she also gets a £150k mortgage.

For the next two years she will perhaps get child maintenance though if the daughter is in non advanced education up to the age of 20. Possibly she might also be entitled to some tax credits also.

TBagpuss

quotememiserable wrote: »

How his debt came about won't matter, in the same way how the savings came about won't matter. They occurred during the marriage so they're all split equally.

That's not quite correct. The debts are part of the picture but how they built up can make a difference to whether or not they are treated as joint, and taken off the total before it's split, or not, in which case the assets may be split and he will have to cover the debts out of his share.

It is relevant to look at who had the benefit of the money borrowed. So credit card debt where the cards were used to pay for a family holiday would be treated as joint, debt built up by the cardholder indulging a personal hobby might not be.

It does depend on the particular situation.

peachyprice

motor_bike wrote: »

she is already living on a very tight budget not spending on anything apart from daily living so i too think its going to be very tough

She earns £1500 a month and is living mortgage free, that is not a very tight budget TBH when all she is having to pay is utilities and food for 2 people.