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my husband has racked up a lot of debt in my name

  • auntijools
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09 Jan 13 #373559 by auntijools
Topic started by auntijools
I was wondering if anyone could clarify where i stand with divorcing my husband and the debts i have in my name which he ran up whilst we were married?
He used a bank account in my name which i never used and also ran up debt on a credit card but was the secondary card holder!

Im wondering will he be liable for half of the debt if i divorce him as the debt was incurred whilst we have been married?

  • Shezi
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09 Jan 13 #373564 by Shezi
Reply from Shezi
I''m not a financial expert (hopefully one of those will come along :D) but I''m pretty sure that when it comes to ancillary matters, the assets and liabilities are combined as joint pots. You will have to share the assets, but at the same time are both responsible for the liabilities. Debts will have to be paid out of whatever assets there are before either of you can get anything.

In short, it doesn''t matter who ran up the debt, any more than it matters who paid into the savings account. What you will split in court will be what is left after debts are paid.

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