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Joint debt and sole debt but who pays?

  • Unique
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18 Mar 13 #384936 by Unique
Topic started by Unique
Separated but been married for 15 years.,no children.
Question being is does it get counted as one pot and debt split equally? Majority of debt is in my name such as credit cards and her as named cardholder, who pays off debt after house is sold?
Also loans and finance agreements all in my name, but was for house improvements,car for her etc.
A simple answer would be great if there s one that is.
Thanks guys.

  • LittleMrMike
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18 Mar 13 #384964 by LittleMrMike
Reply from LittleMrMike
The first thing to bear in mind is that, if you borrowed the money ( either solely or on your own account ) then you are liable to the lender ; no Court can change that, All it can do is to re-allocate responsibility as between the parties.

As a general rule if the debt was incurred for the common weal ( eg installing double glazing ) than the responsibility is like to be equal. If the asset benefits only one party, then that party is likely to have to accept responsibility. But it is only a general rule.

LMM

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18 Mar 13 #384969 by Unique
Reply from Unique
LMM,
Thanks,I''m totally fine with paying back money that has been borrowed,I/ we entered a contract and took the money readily enough so it should be Ayer back readily enough also.Not looking for a free meal ticket here, not my style I''m afraid.
What I was trying to find out was the credit card statements for beauty salons and clothes shopping that were bought after separation by my x,is she liable and I think you ave answered that clearly enough.
Thanks for help.

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