Complicated child maintenance situation

droiderm

Hi all.

I have a rather complicated and annoying situation. I currently pay my ex wife a pretty reasonable sum every month for child maintenance. This is not though the csa.

After moving into rented accommodation recently, we are looking to buy a house in the coming months. In order to increase my affordability, I offered my ex wife a lump sum as a final settlement for child maintenance.
It's due to finish in around 18 months when she is due to leave further education .

My ex wife said she would think about it but let me know she is thinking about going bankrupt.

Which I expect makes it a non starter?

I suspect the official receiver would ask why child maintenance had stopped and want a piece, or all of the lump sum ?

Thanks in advance

Socajam

Do not pay here the lump sum, this might come back and bite you in the butt.
Open a bank account, deposit the lump sum there and withdraw the child maintenance amount monthly
I would never trust anyone in this situation with a lump sum - she is now your ex for a reason.

maxmycardagain

if you pay her and its in her bank the IS will take an interest in it..


ill leave the plan B upto you to think about

droiderm

Thanks both.

Are we in a position to agree to end paying child maintenance mutually, whether she would benefit financially or not?

Thanks again

droiderm

Another angle here would have been as she would have been getting a lump sum , she would have been getting around 70 percent of the outstanding maintenance.

Is the suggestion here put the whole amount in a separate bank account and pay her from that so it wouldnt be under scrutiny/questioned by a mortgage company? What if that came to light? I suspect they may have something to say about that ?

sourcrates

droiderm wrote: »

Thanks both.

Are we in a position to agree to end paying child maintenance mutually, whether she would benefit financially or not?

Thanks again

droiderm wrote: »

Another angle here as she would have been getting a lump sum , she would have been getting around 70 percent of the outstanding maintenance.

Is the suggestion here put the whole amount in a separate bank account and pay her from that so it wouldnt be under scrutiny/questioned by a mortgage company? What if that came to light? I suspect they may have something to say about that ?

Nothing to do with any mortgage company, if she`s going to go bankrupt, and the OR see`s a lump sum of cash in her bank account, it will be seized to benefit her creditors, no question.


Best paid monthly, then its an allowable benefit for her.

droiderm

The mortgage company is from my point of view. I don't want the 500 per month counted as an expense

silvercar

Find a trusted friend or relative that you can deposit the lump sum with now, then the trusted friend can pay the maintenance on your behalf and it will be out of the affordability calculations.

Keep_pedalling

silvercar wrote: »

Find a trusted friend or relative that you can deposit the lump sum with now, then the trusted friend can pay the maintenance on your behalf and it will be out of the affordability calculations.

The trusted friend must be one who does not mind being party to mortgage fraud, should be single, as you don’t want your money being part of a divorce settlement, needs to be financially sound, as you don’t want your money being used to pay his debts if he runs into financial trouble, and they should also be immortal, as you don’t want you money to be part of his estate should he cut down by a number 77 bus.

Socajam

Keep pedalling - I love your reply to the OP's question, all of which is completely true.
I could see in a couple of months the OP return claiming that his trusted friend use his money as you outlined above and what recourse does he have.
Best laugh for Boxing Day

droiderm

Keep_pedalling wrote: »

The trusted friend must be one who does not mind being party to mortgage fraud, should be single, as you don’t want your money being part of a divorce settlement, needs to be financially sound, as you don’t want your money being used to pay his debts if he runs into financial trouble, and they should also be immortal, as you don’t want you money to be part of his estate should he cut down by a number 77 bus.

My intention is not to commit any kind of fraud , that's the last thing I want to do.

And of course you are absolutely correct to point out the risks, which I am not willing to take.

It's just frustrating that she would have likely agreed, and if she wasn't going bankrupt we could have came up with a legal agreement that I would no longer have to pay child maintenance . That would have been totally legitimate from a mortgage affordability perspective.