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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 04-10-2012, 08:42 PM
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My ex has retained all of our matrimonial debt. That much has been settled. I am currently seeking spousal support and apparently the debt that he retained is being taken into consideration as far as determining how much spousal support I will be awarded. He has said himself that he is not paying off the debt right now because he is unable to afford to do so as a result of his legal fees, and that when this is all said and done he will be able to begin paying on them.

How can this debt be taken into consideration if he isn't even paying on it? My lawyer had sent an email to his lawyer asking if he has paid them off, and/or if he is making payment...and has also asked to provide proof. She tells me that she got a reply from ex's lawyer saying that it's irrelevant what he's paying or if he ever pays, bottom line is that the debt is his, not mine. If he's not even paying on this debt, then how can it be taken into consideration? Who is right here?
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Old 04-10-2012, 08:45 PM
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The share of matrimonial debt taken on by a SS payor is a big consideration when it comes to both entitlement and amount - as it should be.

Whether he's paying it or not is really none of your business (as long as you are no longer liable for the debt if he defaults).

Cheers!

Gary
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Old 04-10-2012, 08:50 PM
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the debt is there, its not a case of him paying on it or not, they can come after him to pay. If he isnt paying i am sure that interest etc is racking up. It just doesnt magically disappear.

You say he took on all the debt, was that the equalization?? To me if he took on all the debt and you didnt have to why go for SS??? You are doing better then him financially with not having the debt over your head.
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Old 04-10-2012, 10:12 PM
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I agree... it may be settled, but if you push this issue, there is nothing stopping him from opening the case up again and then you having to take on your share of the debt.

You need to explain why it SHOULDN'T be taken into account.... if YOU had the debt, would you want it taken into account as to how much her should pay you? Or would you be okay with that amount be excluded, thus dropping the amount of SS you would be awarded?
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Old 04-10-2012, 11:13 PM
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Wait, aren't you the one who already got all the assets, minus a boat but including the entire house, and a decent amount of CS, and he got all the debts? And you were taking him to court to get SS and punish him for how he left you? And now you're whining that he'll probably have to pay less SS because of the debt he took on?

Quit while you're ahead already!
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Old 04-11-2012, 12:27 AM
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Quote:
Originally Posted by Gary M View Post
The share of matrimonial debt taken on by a SS payor is a big consideration when it comes to both entitlement and amount - as it should be.

Whether he's paying it or not is really none of your business (as long as you are no longer liable for the debt if he defaults).

Cheers!

Gary
Yes, Gary saves me typing yet again!
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Old 04-11-2012, 10:08 AM
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Your ex and his lawyer are right - sheesh, that seems pretty simple to me.

I guess you have a lawyer who is either not too bright, or is just interested in whatever money (s)he can get from you.

Last edited by dinkyface; 04-11-2012 at 10:10 AM.
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Old 04-11-2012, 11:35 AM
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I've heard through the grapevine this morning that he has declared bankruptcy on this debt. If this is the case, then can this debt still be used for equalization? It's my understanding that he is paying 700 per month to the trustee and has lost his recent income tax return as it was kept by the trustee to pay into the bankruptcy. His brother inlaw tells me that ex is saying that even though he will be absolved of 75% of the matrimonial debt, and pay into the other 25%, the total will still be used for equalization. I feel that only the amount he actually paid into the debt should be used. Ex will certainly argue that the bankruptcy will affect his credit for many years and the total should be used. Who is right here? Anyone have experience with bankruptcy and how it affect equalization for ss? Thank you.
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Old 04-11-2012, 01:09 PM
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You seem to be all about sucking him dry... people have already stated that YES the full amount will be used... what you "heard through the grape vine" is irrelevant and hearsay... What you feel is irrelevant... fact is.. he took on ALL the debt and now you want MORE SS from him? Like seriously? If it were me, I would make sure YOU took on YOUR share of the debt. You got off really lucky and you are now wasting money on fighting something you will lose.
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Old 04-11-2012, 01:24 PM
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Quote:
You seem to be all about sucking him dry... people have already stated that YES the full amount will be used... what you "heard through the grape vine" is irrelevant...
Quote:
Quit while you're ahead already!
Ok...I admit it, I'm laughing.


To the OP, instead of spending your day gossipping with your ex's brother's, baby-momma's, cousin's, uncles, best brah's, sister about marital debt that you're not even responsible for (that you should be, btw) because you're so invested in trying to bilk your ex out of money to punish him for leaving you...why don't you spend some time here www.monster.ca and actually do something constructive and empowering to help yourself and your children.

He's allowed to divorce you...and frankly, its not that surprising given your attitude.

Put on your big girl pants and get a job...seriously, you are your own worst enemy and you're going to end up causing harm to your own children if you don't stop.

Last edited by Pursuinghappiness; 04-11-2012 at 01:53 PM. Reason: ...eek, i fixed it
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