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Are sole debts ignored or taken into account?

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belmont
Posted by
Senior Member

28 Sep 14 #445617 by belmont

Topic started by belmont

Probably a really silly question but are debts accrued during the marriage by one partner in their name only taken into account in any way in financial settlement?

My ex and I have a small amount of joint debt but I have additional debt in my own name. I am not sure if I will be expected to pay this off out of my share of any money or if that is completely separate to the proceedings.

Thanks

sulkypants
User is blocked

28 Sep 14 #445619 by sulkypants

Reply from sulkypants

What were the debts for ?

Did your partner benefit from them ie a joint holiday or a home improvement ?

belmont
Posted by
Senior Member

28 Sep 14 #445621 by belmont

Reply from belmont

They are mainly payday loans that I accrued because I got myself in a mess and some are legal fees from when I got a non-molestation order against him. So no he didn''t benefit.

TurboB
Platinum Member

29 Sep 14 #445640 by TurboB

Reply from TurboB

IRRC correctly, you will declare your debts/loans on the form E if you go down that route regarding the Financial settlement, then this debt is offset against any other assets that you own.

I myself haven''t gone beyond this stage, so don''t know how this would play out practically.

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