When couples separate or divorce they might have debts which need to be sorted and sometimes that can be difficult. Countrywide Mediation can enable you to have a safe and balanced conversation with an impartial person. Contact us today for more information.

Dealing With Debts After A Separation Or Divorce?

Dealing With Debts

Going through a divorce or separation process can be very traumatizing and one issue that must be resolved is what happens to the assets acquired or were in the marriage. The decision must also be made on what happens to joint debts you have with your spouse or those in sole names because even if the debt is not in your name, you could end up affected if the registration of the debt is under the house or property which you live.

There are different ways of dealing with different debts when you separate or divorce. Remember, loan repayments is crucial for keeping your credit card rating high and avoiding Court Judgements.

Further help with dealing with your debts


The property can be sold and the earnings transferred to redeem the mortgage. If the money is not enough, the mortgage company will claim the balance from either of you or both. The mortgage is in joint names so you are responsible for paying it jointly. The property can also be rented and the proceeds redeemed to pay off the mortgage.

You can also agree the ownership of the property be transferred into one name in case of joint ownership and that person be responsible of paying the mortgage. The court can also decides to transfer the house into one party’s sole name with the mortgage remaining in joint names provided the party keeping it agrees to meet the monthly payments.

Also the court can decide that the mortgage be repaid from available equity in the house followed by the party who provided the undertaking.

Other Registered Charges

You may as well have other loans safeguarded against the property like home improvements and repair loans. You need to obtain copies of the Register from the Land Registry to confirm custodies registered against your property as you need to know debts you are taking on in case you agree with your partner the property to be transferred to you.

Unsecured debts

Assets acquired using unsecured loans such as car finance and bank loans that are in your joint or sole names may also exists. If you don’t want to be responsible of your former partner’s debts, the court can order declaration as to who is responsible for paying the debts as it cannot order a party to pay the debts. See our fees

Matrimonial Debts

Loans acquired for something you jointly enjoyed, the court is likely to look at joint responsibility for paying the loans regardless of whose name the debt is registered. Where there are assets available to repay the loans, the court expect the assets be used to settle the debts.