Hello,
Ugly situation either way need help... pls..
Married since July 2008. Common Law for 6yrs. Recently separated as of Jan 1st 2009. We have a 6 y/o daughter. Divison of property all most complete other than assets and debts.. Attemping to avoid lawyers and extra cost.. Mediators???
Both names on Matrimonial Home and Loan. The house was refinanced 5 months ago due to increase in value and to pay for wedding and new family vehicle. I sold the new vehicle and applied it to the loan for both of us and she kept the other vehicle.
House is overmortgaged with no equity @ $267,000.00 including well documented wedding and vehicle debt in the mortgage. Market value of home is uncomfirmed but since the separation date is close it is near $230 minus selling fees...
Loan is 18,000.00
Initially she refused to ask for SS
She makes approx. 35K working PT
I make 72K but worked multiple jobs in the last few years to get us here making max around 90k
Shared custody between oursleves with 50/50 slipt daycare and associated cost... no Child support to each other.
I have remained in the home payed 2 months of 4500.00/mnth debt and she has refused to pay anything that she is legal bound and titled on. She has obtained a apt near our daughters school. The matrimonial home is near the school. She has seen several lawyers for 1hr whom advised her for me take all the debt or pay SS. She then refused to ask for SS and is looking for another lawyer ??and returned to our verbal agreements without dealing with debts...
Multiple steps, not really sure what next.....
I am asking to assume over 40k of debt, she assumes 8,000.00 of debts and wave future rights to Spousal support.
?????? What is first?...???
Sell the house, slipt the debt 1/2 and pay spousal support?
Take the debt and no SS?
Fair is fair and pay SS ??
Can family debts taken on by a spouse balance SS? My understanding is that compensation for SS is not applicable because we both worked FT since our daughter was born. Neither stayed at home and sacrified a carreer/education. She does have a current need for SS due to working PT and just making the bills. I would like to help her with $ but debts???
Tks for your ear and help,
Ugly situation either way need help... pls..
Married since July 2008. Common Law for 6yrs. Recently separated as of Jan 1st 2009. We have a 6 y/o daughter. Divison of property all most complete other than assets and debts.. Attemping to avoid lawyers and extra cost.. Mediators???
Both names on Matrimonial Home and Loan. The house was refinanced 5 months ago due to increase in value and to pay for wedding and new family vehicle. I sold the new vehicle and applied it to the loan for both of us and she kept the other vehicle.
House is overmortgaged with no equity @ $267,000.00 including well documented wedding and vehicle debt in the mortgage. Market value of home is uncomfirmed but since the separation date is close it is near $230 minus selling fees...
Loan is 18,000.00
Initially she refused to ask for SS
She makes approx. 35K working PT
I make 72K but worked multiple jobs in the last few years to get us here making max around 90k
Shared custody between oursleves with 50/50 slipt daycare and associated cost... no Child support to each other.
I have remained in the home payed 2 months of 4500.00/mnth debt and she has refused to pay anything that she is legal bound and titled on. She has obtained a apt near our daughters school. The matrimonial home is near the school. She has seen several lawyers for 1hr whom advised her for me take all the debt or pay SS. She then refused to ask for SS and is looking for another lawyer ??and returned to our verbal agreements without dealing with debts...
Multiple steps, not really sure what next.....
I am asking to assume over 40k of debt, she assumes 8,000.00 of debts and wave future rights to Spousal support.
?????? What is first?...???
Sell the house, slipt the debt 1/2 and pay spousal support?
Take the debt and no SS?
Fair is fair and pay SS ??
Can family debts taken on by a spouse balance SS? My understanding is that compensation for SS is not applicable because we both worked FT since our daughter was born. Neither stayed at home and sacrified a carreer/education. She does have a current need for SS due to working PT and just making the bills. I would like to help her with $ but debts???
Tks for your ear and help,
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