what do you think about using joint account funds

System

aww no I appreciate your reply, hope life is treating you good

LilElvis

buttterfly wrote: »

yes very true regarding Solictors, I know it will be costly. and has also said I could have an allowance per month for a few years too

If you are currently earning sufficient to repay your debts at £3,000 per month then your chances of receiving substantial spousal maintenance is going to be greatly diminished.

System

aww yeah I didn't think of that, I just spoke to solicitor she said only to draw 50% of joint account and no more as seen as emptying joint pot. The debts will be factored into divorce anyway

Happier_Me

However you decide to clear your debts, you need to work out how you've built up £60k of debt and make sure you take steps to put a stop to any overspending. Otherwise you'll just build the debt up again and that will be disastrous for you.

System

have built on being on own at weekends, its also an child hood thing where I had nothing but watched my sisters have everything, also lots of arguments at home where I would just go and shop, I think most people these days have debts but not this amount

enthusiasticsaver

I would not withdraw that amount from a joint account without discussion but it sounds like you have a dysfunctional relationship. Surely your DH will notice if you take out that much in one hit? If your solicitor says take 50% then presumably that is nearer £30k which will not repay the debt and presumably once you do that the marriage is over and your husband will redirect his salary elsewhere? Can you support yourself if that were the case?

If you have £3k available to repay every month I am unsure why you have not tackled this earlier. I agree that an soa would be a good start. I am not sure why your solicitor has said 70/30 split in presumably your favour? My sister is going through a divorce after a long marriage (29 years) and there is a large difference between her salary and my ex BIL but the starting point is 50/50 especially if you have no young children. They have agreed a 70/30 split in the property in her favour and a 30/70 split in his pension in his favour but their divorce is relatively amicable. Not sure if that will be the case with your DH.

System

aww thats interesting re your sister, yes the pension would be worth as much as house and solicitor did say we could do a 70/30 spilt and then leave the pension which would be a fairer way todo it. I don't think i am going to touch the joint account funds until I have actually spoken to him and then I will go from there. She did also say it was better to leave the debts as they will factor that in divorce in that if I got a 50/50 spilt once those debts come off in fact would I have enough to buy a property in this area.

System

I've decided I'm going to just ask him I can borrow the money interest free and repay back to him monthly.

Mnd

I can't suggest anything to help your financial situation, the numbers you are talking are in a different planet to our income. (2200 a month and we have no debt)

I think the big problem here is your relationship, that doesn't sound like a marriage where I would be comfortable about any long term prospects, sort that out and the money shouldn't be a problem

System

Having read all the comments, it sounds to me that Buttterfly is trying to get rid of her debt so after the divorce it doesn't become her burden. Do it now and husband who's soon to become ex-husband is going to help stump up the debt.