New here and completely stressed

[Tayken]

Originally Posted by blinkandimgone

Tayken....can you elaborate more on this...



Some hypothetical examples, perhaps?

Credit card debt. If the card has been held in the person's name, is paid out of a non-shared bank account and the other party has never had access to the account it can end up being their debt. It all depends on how the family historically handled "family money". If there is a pattern which demonstrates that the credit card was the property of one spouse and it was only used by that spouse etc... It has been argued to be that spouses debt.

Also, it happens a lot when one spouse plans to leave the other spouse and then does a cash withdraw off a credit card two days before retaining a solicitor using the money to pay for that solicitor. 9 times out of 10 the person who created the debt on the shared account will be responsible for the debt.

Some people think it is smart to run up the credit card, buy new clothing, setup a new life prior to separating. Really not a good idea to pull this stunt on a shared credit card as it is easy to spot and well, financial records are easy to get. (and on shared accounts SIMPLE!)

It generally doesn't come up for personal accounts but, when businesses are involved it comes up a lot.

For example a "momprenure" trying to push her small business loan debt as a "family debt" where the title of the company is soul proprietorship. Any debt accrued on the "company" credit card would be the responsibility of the company and the person who owns the company. Lots of this happens in litigation. Divorce + small business = litigation nightmare at times.

Generally when this happens a forensic accountant gets involved to sort it all out. But, you really only see this on debts on Amex cards that are over 30K or other large account platinum cards. Usually people don't go to court over a 5000$ credit card debt. They just logically split the debt. Unless the account balance went from 0 to 5000$ two days before they got a letter from the other party's solicitor.

Vehicles is another grey area for debt. Lots of vehicles are purchased as soul ownership (only one name on ownership). In equalization the debt is the responsibility of the person who holds the title and loan generally.

Good Luck!
Tayken

[Tayken]

Originally Posted by blinkandimgone

Tayken....can you elaborate more on this...



Some hypothetical examples, perhaps?

Oh, and in affidavit material be very careful how you use "my" and "our". If you swear in a paragraph something about "my credit card" you may have to either strike your statement, admit to an error, or end up paying for "your" credit card debt.

Cross examination on financials can be a nightmare if a litigation oriented barrister is involved. Every little mistake you made and typo in your affidavit will be used against you. "My car", "My credit card", anything "possessive" over what is a shared asset, even if in both names, especially if it is a negative asset, will be presented in fact as "your" property and "your" debt.

xx. I used my credit card to purchase new clothing for my new job on Date, XX, XXXX..

vs.

xx. I used our credit card to purchase new clothing for my new job on Date, XX, XXXX.

If you spent 3500$ on this and a week later you are separated. Don't think that you got your new cloths for half price. You more than likely will be eating the full cost of your shopping adventure.

Also, never reveal to anyone your plan to leave someone. Never email it to a friend, future boyfriend, or even say it to anyone. If you are planning to leave someone in a month or two (or even in a year) keep it to yourself. You never know where this can pop up in litigation. You may think it is cool to email your friend saying you had planned to leave the other party for a while now... But, if that friend provides the email to the other party and it shows up in the continuing record... You may have a lot to answer for on your behaviour prior to separation and your spending habits.

Good Luck!
Tayken

[frustratedwithex]

Originally Posted by Tayken

If you spent 3500$ on this and a week later you are separated. Don't think that you got your new cloths for half price. You more than likely will be eating the full cost of your shopping adventure.

Also, never reveal to anyone your plan to leave someone. Never email it to a friend, future boyfriend, or even say it to anyone. If you are planning to leave someone in a month or two (or even in a year) keep it to yourself. You never know where this can pop up in litigation. You may think it is cool to email your friend saying you had planned to leave the other party for a while now... But, if that friend provides the email to the other party and it shows up in the continuing record... You may have a lot to answer for on your behaviour prior to separation and your spending habits.

Good Luck!
Tayken

If the stbx purchased a vehicle about 2 months before separation and used a personal line of credit for the purchase (not joint), he is responsible for that debt? Stbx cannot claim in his financial statement that he paid off this particular family debt? I don't know for certain, here say at this point, but stbx had a conversation with someone prior to this purchase about his decision to separate.

[blinkandimgone]

Thank you Tayken, I may PM you more about this later, if you don't mind?