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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33281
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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i am trying to sort my financials out with my ex wife, been

Customer Question

i am trying to sort my financials out with my ex wife, been divorced for 4 years and living in marital home as there was not enough equity in it to sell without being in negative equity. House is now going up for sale as it has regained enough to pay off the mortgage.
Ex has already instructed solicitors and trying to control situation.

The question is should I go to a solicitor as well or go to mediation as I do not have much to be able to pay for solitiors and there will be no money left after the house sale if I can get her to sign off on the sale. She refuses to speak to me directly about anything.
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How long were you living together and are there any children involved
What assets and debts are there and what income do you each have?
Clare
Customer: replied 2 years ago.

hi Clare


We were married between 1999 and oct 2009 when the absolute went through on the basis of her unreasonable behaviour which she agreed to.


 


Since then I have initially lived in rented then I thought I had a buyer for the marital home in 2010 so she moved out. This sale fell through and I had to move back in during Feb 2010, as I was the only one contributing to the mortgage and have for the last four years. The property has now recovered enough value to clear the mortgage just so I can sort the financials out hence question.


 


I have two boys aged 10 and 7 who I see every Wednesday after school till 7 pm and every other weekend they stay with me from Friday evening until Sunday evening around 7. I also have them for weeks at a time during school holidays.


 


I run my own limited business which I am the sole director off and take an income of £22k from roughly per annum. I have approx. 30k of debt which includes 2 ccjs, one which is joint with the ex for £1500 and another for £10k. I also have several other unsecured debts totalling approximately £20k that I pay a £1 per month to as well as the mortgage. I do not know what she earns but I do know she is in rented and is working more than 3 days a week but not sure how many hours. I believe she gets help with rent etc on top of tax credits.


 


I do not have much money left to afford much in the way of solicitors bills when I hear that they can be thousands. I think she was hoping that the sale of the house would net enough money to pay the mortgage, sale costs, her part of the ccj and the solicitors bills.


 


Having now had 3 valuations the house is worth around the £165k mark and the mortgage is at £163k.


 


Look forward to your thoughts.


Thanks


Paul

Expert:  Clare replied 2 years ago.
Hi
Where do your ex and the children live?
Clare
Customer: replied 2 years ago.

they live in a rental property in a village 5 mins away


Paul

Expert:  Clare replied 2 years ago.
Hi
What has your ex asked for?
Clare
Customer: replied 2 years ago.

at present only that I get the valuations on the house, but I expect this is the start of her trying to get as much as possible out of me.


 


I have read that you need to go to mediation these days which is separate for solicitors.


 


I do not at present have a solicitor but am responding to the letters from her solicitors myself and firstly wonder if I should try mediation first or solicitors since she has solicitors and also refuses to discuss anything directly with me.


 


As I now need to get agreement to sell the house even if it does not fully clear the mortgage as I no longer want to pay for a house on interest only when I am unable to get a mortgage on my own or remove her from the mortgage as the mortgage company will only remove her if I change to a repayment mortgage with them based on 15 years and costing £1200 per month. needless to say I can not afford that so need to sell. Also business is picking up and i'm not sure if she can come at the limited businesses profits or not as I am the sole director. I would like to move on with my life after 4 years of being divorced otherwise I can see that I will never get this resolved.


 


For info I have been paying £200 per month for the last 4 years as maintenance for the boys but this was just a mutual agreement agreed with the solicitors as part of the divorce.


 


Your thoughts are welcome.


paul

Expert:  Clare replied 2 years ago.
Hi
That is fine - can you meet any shortfall if there is still negative equity?
What income do you have?
Clare
Customer: replied 2 years ago.

I take around 1800 per month but have nothing available to cover the shortfall.

Expert:  Clare replied 2 years ago.
Hi
Does the business have any value in itself - or is it essentially just you?
Clare
Customer: replied 2 years ago.

Not sure where you are going with this as question seems to have changed from do I use solitiors of try mediation but hopefully it means you have a full picture. Business is limited and does have profits last years profits were £26k. This year may be higher, I employ three people but I am sole director. Is my business at risk then from her with me as sole director?

Expert:  Clare replied 2 years ago.
Hi
If the business has a value - if it could be sold as a going concern - then your ex has a claim on it
Since it appears that there are assets about which there could be a dispute then you should try mediation first as this is your best chance of reaching a negotiated settlement and avoiding lengthy and expensive court proceedings
I hope that this is of assistance - please ask if you need further details
Clare

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