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Lolita123 09-20-2017 12:07 PM

separating marital debt
 
Good afternoon,

Anyone has incurred this situation? So, the only thing left to 'separate' is the joint LOC. The house has been sold, the car loan is taken care of (only 8 months to go and payments being made by my partner for the ex since the loan was under his name and the car ownership under her, but she agreed to have him take it out CS instead of him paying full and her sending him back the car payment amount every 2 weeks)...

There is a history of her lying and just doing everything in her power (or because of laziness) to delay everything.. Now, she came up with multiple stories as to why she cannot get approved to take on her share of the LOC so that it's no longer joint... Just an example, the bank lady told her that having her dad as a co-signee is NOT a good idea because it will only help HIS credit (the dad)... anyways other thing is that we had to pay over $1500 within 1 weeks for her since she stop paying stuff (late payments on the LOC... last mortgage payment that she did not make ... the overdraft of the joint account (where the mortgage and the car payment was being taken out from)... We are trying to have nothing financially tied to her (beside the CS). the house, the LOC and the Account was joint so we made sure to pay it off because it would also affect his credit even if on paper she was responsible for those... anyways... now, we wonder what can we do if she doesn't go get a loan for her share... last month we had to remind her that her payment was short of $12.00 in order to make sure again that she did not default on the full payment...

My partner has been pre-approved for a LOC for his share.. but it's no good until she gets approved for her share... but in the end what could we do... she's been soooo unreasonable during this process.. everything from wanting to sell him the old bikes (that were bought when they were still together) and instead of having them to use at our place.. she gave them for free to someone else... and on his weekend there is a fair.. we were not going cause with 4 kids that a lot of $... He told her that if she wanted to take them it was fine he would get them on the Saturday morning.. long story short, she told the kids that if they want to go to the fair with her, they have to stay the whole weekend with her since she's paying for it so she should get them the entire weekend... what a horrible position to put the kids in.. my partner told them that no matter what he loved them and understood if they wanted to stay to go to the fair...

anyways, back to the issue at hand... If my partner gives her a time frame to get this done (it's been since May) and if not done, he goes on to get a LOC for his share and a loan for her share... could this be seen as undue hardship to carry a larger amount of the family debt and deduct the monthly payment from the CS?

This has never gone to court and everything that has been offered to her is always based on the guidelines etc...

We know that it would not affect the kids... maybe her lifestyle since in an email she reminded him that CS was to help HER maintain her standard of living same as pre-separation.. we reminded her that it was the kids lifestyle .. not hers.. and at $1300 a month in CS + CCB of $1000... and other benefits non taxable such as GHS /HST and her income of $1200 a month.. she would be ok.. plus her car payment is almost over and that is $366 a month... so basically she would stop paying the car and start paying the loan instead...

thoughts?

rockscan 09-20-2017 12:33 PM

Has the equalization been paid out? Why was it not taken off that?

Lolita123 09-20-2017 01:36 PM

Quote:

Originally Posted by rockscan (Post 223716)
Has the equalization been paid out? Why was it not taken off that?

Oh my... well.. you know people who want to 'work things out' thinking that they can do this in an amicable way... well that is that.. so no... also the net for both is negative... when you consider everything... basically when the house sold, since she stayed in the house and paid down on the capital, she got the profit up to what she brought down the capital by since the date of the separation.. anything above would have been split 50/50 (but there was nothing left.. in fact they made only like $2000)...

In the agreement that they signed in front of witness and all (awaiting to file for divorce) it said that both parties agreed to take on their share of the LOC (even if a co-signee was required) and that it had to be done by end of august... My partner has been pre-approved pending her approval of her share but she comes up with every stupid excuse in the book...


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