Debt Within The Family

Family Law- Newcastle and Sunderland

Quite often, our Family Law Team are contacted by clients who are distressed because their spouse has incurred debt during the marriage.

Debt may be by way of generally overspending on clothes, meals out, or trips away with friends. It could also be because of drug use or gambling, and in some cases, debt rises considerably if one party starts to have an affair.

So, how can we help?

In the first instance, if there are joint bank accounts, we would suggest freezing those accounts so that no further overdraft can be utilised.

In order to negotiate a settlement properly, especially to protect you from any claims against your assets in the future by your spouse, solicitors should be used. We, therefore, become involved in negotiating payment of solicitors' costs. It may be necessary to cash in an investment to achieve this. If your spouse has left you short of money, it may be possible to obtain a Legal Services Order in order for them to contribute to your legal costs. A judge can make an order they must make a contribution from their salary or they could even be forced to sell their car.

Any Court will take into account frivolous overspending, and at an early stage in negotiations, Emmersons Solicitors Family Team would raise this as an issue. We point out that lifestyle choices will need to change in order to protect the assets of the family. Any Court will put the needs of the children’s housing above all else.

We see our role as being to preserve as many assets of the family as possible. We often negotiate with mortgage advisers in respect of arrears. We also negotiate with trustees in bankruptcy.

If you have worked hard to build up your assets, then we can support you to protect those assets for your future and that of your children.

Contact the Family Law Team at Emmersons Solicitors:

Divorce Solicitors Newcastle:  0191 284 6989

Divorce Solicitors Sunderland: 0191 567 6667

Email us: enquiries@emmersons-solicitors.co.uk

Complete our Online Enquiry Form

You can also park opposite our Sunderland Office on John Street.