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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

 

Help needed with csa and mortage

  • DanO1986
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06 Dec 23 #522139 by DanO1986
Topic started by DanO1986
Hi so around 18months ago my wife (still married ) and I separated, I felt I wasn't in love anymore and didn't want to be in a relationship for the sake of it, we were together 16years and have two beautiful children aged 14 and 11. My problem is I pay £662 in csa payments and £600+ to the mortgage (which is half of the monthly cost ) which is in both of our names ,I also have £30k debt which was accumulated while being married but was all in my name , I have now added this debt to a debt management company to help with the financial load ,i now am living in my parents spare bedroom and have around £400 a month to live on , obviously this situation isn't ideal for a 37 year old man , my ex is in a poorly paid job and gets benifits to cover her half of the mortage . What options do I have ? I really can't afford to keep paying the mortage but I also don't want my kids to end up in bad accommodation, forgot to mention there is around £100k in equity in our property , all help is hugely appreciated as I'm struggling really badly both financially and mentally
dan

  • WYSPECIAL
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09 Dec 23 #522144 by WYSPECIAL
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You’re not liable for half the mortgage each. You’re both liable for the full amount.

On what basis are you paying child maintenance? CSA haven’t existed for years.

Why are you paying towards the mortgage as well when
you are not living there?

Post more details of incomes and out goings.

Your current situation isn’t sustainable.

  • DanO1986
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09 Dec 23 #522146 by DanO1986
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Sorry I’d say csa I mean child maintenance service , and when I left my mortage company told me the mortgage has to be paid in full my ex is in a low paid job and to keep my children in the family home we just pay half each , I can no longer or haven’t ever been able to manage paying cms ,mortgage, and afford rent , I’ve been sofa surfing just so my children don’t have to leave the family house but I can no longer do this

  • DanO1986
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09 Dec 23 #522147 by DanO1986
Reply from DanO1986
And also my basic income is £2700 net and outgoings £1900 that doesn’t include food fuel or paying rent !

  • hadenoughnow
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09 Dec 23 #522150 by hadenoughnow
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How big is the property your family is living in? Is there anything your ex could do to increase her income, beyond claiming benefits? If you've accumulated £30k of joint debt during the marriage it seems you have been living unaffordably. How did the debt arise?
As non resident parent you do have to pay cm. Ideally you should each have a place that's big enough for the children to stay. Are there any options like shared ownership locally or would it be possible to downsize the FMH and clear the debt??
The priority is secure and stable housing for the children until they are older but your needs are important too.

To help more effectively we need to know:

Ages
Incomes Inc any benefits
Length of marriage plus cohabitation
Children age, gender and proposed arrangements
Market value of FMH (former matrimonial home)
Outstanding mortgage
Size of FMH
Pensions type and CETV
Value of other assets in sole or joint names
Loans/debts in sole or joint names.

Any other factors that may be relevant e.g. disability, source of funds, imminent windfalls etc

Hadenoughnow

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11 Dec 23 #522154 by DanO1986
Reply from DanO1986
So kids ages are 14 and 11, Fhm is a 3 bed terraced house , the debt was on cars some home improvements a holiday and just basically me being bad with money as my outgoings (mortage bills etc started to become higher than my income )
My basic salary is £50k
My ex salary around £12k(she gets universal credit ) along with my £662 cms payment every month ,
House value is £340k
Mortgage left on house is £228k, ideally I’d like the kids to stay in the family home ,but I just cannot afford to pay half of the mortgage ,I have £38k debt which is with stepchange dmp, ideally I’d like to sell
The house and clear my debt

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11 Dec 23 #522155 by DanO1986
Reply from DanO1986
Forgot to add the i left the family car with my ex so she could drive the kids around, I had to get a small loan to buy a second car for me a cheap run around which I still own ! The old car broke so rather than fix it she sold to we buy any car who gave her £300 when market value was probably £1800 , I have no valuable items other than a mountain bike which is worth around £2000 ,

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