![]() ![]() This is the case for any type of loan or debt.ĭebts must continue to be repaid until a financial dispute has been formally settled by a court or mediation. So, if a credit card is in your name, you are responsible for making the repayments, even if it was used by both of you. Generally, the debt ‘belongs’ to the person whose name it is in. ‘Even if you are not married, a solicitor can still help you determine who should take on responsibility for the debts and many couples find that mediation or collaborative law can be a useful way to resolve such disputes.’ ‘With increasing financial pressures on family life, it is not uncommon for debts to be part of the negotiations for a financial settlement in a divorce or civil partnership dissolution’ says Amanda. After separation, it is not uncommon for one half of the couple to claim that this debt was not for the benefit of the family but was incurred through one person’s personal use, extravagance or foolishness.Īmanda Brown family lawyer with Family Law Group in Nottingham looks at the question of who is responsible for paying the debts once you have decided to go your separate ways, and how a family lawyer can help. One of you may have a loan or a credit card in your name even though you both benefited from the expenditure which might have been a big item such as repairs to the house, or a holiday, or just to keep on top of everyday bills. Trying to keep on top of this can be a major source of stress and according to the relationship counselling service, Relate, debt is cited as the reason one in ten couples decide to separate, divorce or dissolve their civil partnership.ĭisagreements over who is responsible for the debts are common in separating couples. The average household in the UK now has debts of around £58,000 according to The Money Charity. ![]()
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