liable for debt???

Hi wiki's please could someone advise me if I would be liable for stbx debts???

He has taken out a loan, double figures, recently to fund final hearing. Will judge feel sorry for him and make me liable for this??? A;so he has cashed in an endowment (from joint marital pot and spent it) albeit it was in his name. Will that be taken into account too?

I am worried as self repping as can't afford loan. Don't want judge to award him more to pay off his debts!!!!!!!!!!

Thanks
Survive
x

Survive
A post separation loan taken out in his sole name is not going to be your problem. He could argue that paying it back will reduce his disposable income but tbh I doubt the judge would have much sympathy.
As far as cashing in the endowment and spending it goes, I guess to an extent it depends what he used the money for. If it was living expenses then it may not be a big issue, the pot will be smaller. However if it was on something non essential then you can argue he has dissipated assets and ask that it is factored in as if it still exists. Any share of cash he gets would include the sum he has already "received".

Hadenoughnow

Thanks, yes the endowment was spent he claims on his legal expenses too and to top up his living expenses.

The loan he has just taken out costing an extra £500 odd pcm!!! And yet he can't afford to live. So my worry would be that the judge would award him more to cover this, becasue he still NEEDS a house to accomodate our children when they stay with him.

Thanks
Survive
x

How much is he spending? Is anything he stands to gain worth the bills?
As far as housing goes, the needs of the pwc take priority if there is not enough cash to house you both.

Hadenoughnow

22,000 (plus eveything else that has been spoent so far, so prob about 60,000 plus to him 10,000 costs of mine

Hi hadenough,

another question (or to anyone else), also I am pwc but only for 60% of time, is this still relevent as per your question earlier??

Thanks
Survive
x

survive

The parent counted as PWC is the one who receives CB etc. Ideally you should each have a home of the appropriate size. However there is nothing that says it has to be owned. If there is a FMH and it is not too large or expensive to run it may be that the PWC would be supported to stay there and, if there is insufficient in the pot to buy 2 properties, the other parent would need to rent.

The £70k you say has been spent on legal bills so far would have provided a very substantial deposit. The £500 a month he has committed himself to would fund a repayment mortgage of some £85k or an interest only one of £125k (at 5% over 25 years).

Hmmm.