Husband screwed up with money

[Clarita12345]

Hi there,
My husband who I am in the process of divorcing (court accepted divorce) did some on line trading with Forex in Oct/Nov where he lost so much money... He says he owes the bank £60k.
I am dead worried that they come after his share in both the house we live in & the buy to let flat we rent?
We have 3 kids the youngest 2,5 years... Will they send the bailiff to try to get their money back? I am so concerned please help. Thank you

If the court has accepted your divorce, have you sorted out the finances yet?

Does he have any other assets?

Does your financial settlement give him enough money to settle the debt?

How did he run up such a debt?
He says he owes the bank that : proof please, as otherwise its a scare tactic to reduce your settlement figures.
Talk to your solicitor and get them to enforce disclosure on his bank accounts.

We haven't done the financial split yet.
He was trading on line with Forex and was putting money in from C/C and a persona loan he took as he was seeing or showed him that he was making big money... Once he invested over 20k, he started loosing and obviously lost all the money he took from c/c ....!
I have told my solicitor briefly about it but sent her an e-mail this morning... Always good to hear from real experiences.

To lose £60k he must have had exposure in the high hundreds of thousands (unless he was thick enough to bank on the rouble rising)
sorry but it just does not ring true

he's trying to soften you up for a poxy settlement

If he was trading Forex the upside is very high and the downside as well. It is quite believable to lose £60k.
It will be very simple for him to prove as he will have a statement of account from the "bank" showing the trades and the losses.