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buying car-will it be part of divorce settlement?

(5 Posts)
campocaro Sun 02-Aug-15 23:17:09

Very new to all this. I am in the process of separating from my husband and eventually we will divorce due to his unreasonable behaviour. We currently have no car but my sister has offered to lend me the money on a low rate of interest until I am more financially stable. Will this then be 'divided' in the settlement? Would it be better to get a bank loan and then the car loan debt would be divided if you see what I mean. Any advice apreciated.

bobs123 Sun 02-Aug-15 23:20:32

When you disclose all assets and debts you have to detail any items over £500 (their value, not what you bought them for) You also have to details any debts - ie any money you have borrowed. So in your case one would pretty well cancel the other out. Hope that helps

campocaro Mon 03-Aug-15 09:04:20

Thanks that´s useful.

greyleaf Mon 03-Aug-15 09:09:48

no apparently after you separate you can do what you like and it wont affect the divorce any loans you take out are yours to pay off not theirs

my ex friend did this the second her ex left the house she racked up as much debt as she could and then tried to get it split in the divorce they told her it was an unreasonable request as he had not agreed to the debt so she got landed with it the courts wont sign off on it unless he a, cosigns and agreement or b, your reconcile at that time c, he signs an agreement taking responsibility for 50% of all debts

can you not just make a financial agreement with him personally?

campocaro Mon 03-Aug-15 14:41:45

yes greyleaf I think that´s what will happen. We have separated but live under the same roof at the moment so some of the boundaries a bit blurred. I need to work more on actually separating our finances further. Thanks again

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