Confused

Monkeysee · 26 October 2012 at 7:28PM

Im currently in the process of seperating from my husband, we are about to put our house up for sale and split the proceeds 50/50. My problem is that he has always been negligent with money matters and has run up quite large credit card debts (in his name only) and he has said that if we split the equity on the house in half then all debts need to be split between us also. Is this correct?

anniecave · 26 October 2012 at 8:11PM

What sort of spending was the credit card debts?

A. Things that would clearly benefit you both (eg food for you both to eat)
B. Things that he chose to buy that you had some benefit from (eg furniture, meals out for you both)
C. Things that he bought for himself that you had no benefit from (eg his hobbies).

Or is it combinations of these categories? If so, rough guess, how much of each?

Monkeysee · 27 October 2012 at 10:39AM

Hi, thanks for your reply. It was mainly used to pay his income tax bill. He is self employed and rather than phone the tax office and talk to them he took out a credit card.

CAB_National_Representative · 29 October 2012 at 12:25PM

Monkeysee wrote: »

Im currently in the process of seperating from my husband, we are about to put our house up for sale and split the proceeds 50/50. My problem is that he has always been negligent with money matters and has run up quite large credit card debts (in his name only) and he has said that if we split the equity on the house in half then all debts need to be split between us also. Is this correct?

Hi Monkeysee - our CAB representatives aren't covering this topic at the moment. We'd urge you to get expert advice on these issues, either from your local bureau or a family law solicitor. We do have a section on our Adviceguide about ending a marriage, but it doesn't cover debts - and it's advisable to get advice on this area as quickly as possible.

We hope this helps.

Confused

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