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Tayken · #11 02-24-2021, 11:15 AM

Quote:

Originally Posted by trueblue22

My ex's lawyer indicated he borrowed money from a friend since he isn't allowed access to any credit due to my name being on the family mortgage and because we have no separation agreement. It looks like they are blaming me for sitting on the matrimonial home and making me seem unreasonable for not allowing him access to credit.

And the loan will be paid off once the house is sold. It will be sold. You are going to have to realize that the house is going to be sold. Be forewarned that if you drag out the eventual sale of the home you will be hit with having to pay costs.

You should agree to list and sell the home in a very reasonable time frame and move on. There have been many people that have come to this site thinking that they will get the house and some have paid big costs for delaying the inevitable.

trueblue22 · #12 02-24-2021, 11:52 AM

Quote:

Originally Posted by Tayken

And the loan will be paid off once the house is sold. It will be sold. You are going to have to realize that the house is going to be sold. Be forewarned that if you drag out the eventual sale of the home you will be hit with having to pay costs.

You should agree to list and sell the home in a very reasonable time frame and move on. There have been many people that have come to this site thinking that they will get the house and some have paid big costs for delaying the inevitable.

I understand the house will be sold but when we both had lawyers they discussed my terms to sell the house and it was my ex husband who didn't want to agree to them. He wanted me to take responsibility for money he borrowed against the house and repayment of a loan that is also a registered charge that happened during our marriage. If that money gets paid out then I will be left with almost nothing from our marriage.

rockscan · #13 02-24-2021, 06:18 PM

If the loan was incurred during the marriage then yes you are responsible for a portion. Just like you are entitled to a share of his acquisition of assets from his employment (like pensions etc.)

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trueblue22 · #14 02-26-2021, 10:16 AM

Quote:

Originally Posted by rockscan

If the loan was incurred during the marriage then yes you are responsible for a portion. Just like you are entitled to a share of his acquisition of assets from his employment (like pensions etc.)

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He plans on fighting debt that I incurred during marriage due to some financial and legal troubles that started before we met to reduce the equalization payment. Would he have any reasonable possibility of winning that? My lawyer says it's a coin toss and would depend on the judge.

Kinso · #15 02-26-2021, 01:07 PM

Quote:

My lawyer says it's a coin toss and would depend on the judge.

Yes this is maybe true, but it is debt large enough to justify the legal fees.

You could go to vegas and put it all on black for a 'coin toss'. At least then you'll get comped a dinner if you lose.

Tayken · #16 02-26-2021, 03:58 PM

Quote:

Originally Posted by Kinso

Yes this is maybe true, but it is debt large enough to justify the legal fees.

You could go to vegas and put it all on black for a 'coin toss'. At least then you'll get comped a dinner if you lose.

Niagara falls... Border is closed.

trueblue22 · #17 02-28-2021, 10:19 PM

Quote:

Originally Posted by Kinso

Yes this is maybe true, but it is debt large enough to justify the legal fees.

You could go to vegas and put it all on black for a 'coin toss'. At least then you'll get comped a dinner if you lose.

My ex is trying to argue that I depleted family assets to reduce equalization payment since the issue occurred before marriage and the troubles that followed came after marriage. I incurred over 250k of legal debt.

rockscan · #18 03-01-2021, 01:02 PM

That one is a crapshoot since he agreed to take on the debt as part of the marriage. Really it cuts down on both your equalization but he is allowed to attempt the argument that it escalated during the marriage creating a great deal of debt.

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trueblue22 · #19 03-01-2021, 01:18 PM

Quote:

Originally Posted by rockscan

That one is a crapshoot since he agreed to take on the debt as part of the marriage. Really it cuts down on both your equalization but he is allowed to attempt the argument that it escalated during the marriage creating a great deal of debt.

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He made it very clear in writing during the marriage that he would not be responsible for this debt. I think I may have agreed to that in writing but I can't remember. 250k off any equalization payment would virtually leave me with nothing.

rockscan · #20 03-01-2021, 02:02 PM

Yes but that is not his fault. You should have worked to pay down this debt.

You really keep digging yourself a bigger hole. You had a quarter million in legal debt during the marriage, you never paid any of it, you quit a well paying job to start a business, you don�t pay yourself but pay your new partner and you refuse to agree to sell the matrimonial home. If you lose this case you also pay his fees.

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