Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • motor bike
    • By motor bike 17th Jul 17, 12:16 PM
    • 49Posts
    • 5Thanks
    motor bike
    advice for divorce/settlement
    • #1
    • 17th Jul 17, 12:16 PM
    advice for divorce/settlement 17th Jul 17 at 12:16 PM

    need a bit of advice for a freind of mine who is about to go through with a divorce.

    here are the basic details of whats happend so far..

    husband walked out just over a year ago without warning and gave no real reason. up until then it was all happy families. later found out to have comited adultry.

    they have two children , one whos left home and another who is 18 years old and still at home in full time education and will be for the next couple of years.

    husband has a good job with a good salery ( 4k pm)
    wife gave up a good job to raise the family and support husband with his job as he climbed the ranks to management, when kids were old enough the wife got various jobs and fitted that in with bringing up the kids.

    they have a joint mortgage with about 150k outsanding on a 250k home .

    husband has got two very good pensions and the 4k pm salery
    wife earns 1.500 k pm.

    my freind the wife wants to know what the potential or posible out come will be regaurding the final settlement agreement .

    she has asked him for a divorce and is still in the family home.
    no responce as yet .
    husband dosnt want any contact at all with the wife or the kids.

    husband is how ever paying the mortgage still and the current deal ends in october and i think he is dragging his heels until then . thinking he can come off the mortgage easier ?? .

    like i say these are the basic details and probably a common divorce situation. any help or advice would be greatfull . thanks
Page 2
    • quotememiserable
    • By quotememiserable 17th Jul 17, 7:52 PM
    • 412 Posts
    • 268 Thanks
    as far as i know the wife has no savings and very little joint debt.
    husband has a fare bit of debt , his own doing.
    Originally posted by motor bike
    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.
    • Sambella
    • By Sambella 17th Jul 17, 9:59 PM
    • 381 Posts
    • 380 Thanks
    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
    • By TBagpuss 18th Jul 17, 11:55 AM
    • 6,487 Posts
    • 8,418 Thanks
    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.
    Originally posted by quotememiserable
    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
    • By peachyprice 18th Jul 17, 12:19 PM
    • 19,371 Posts
    • 44,910 Thanks
    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
    Originally posted by motor bike
    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.
    Accept your past without regret, handle your present with confidence and face your future without fear
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

9Posts Today

4,177Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line?

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin