I am currently working through a divorce settlement and the asset pool is negative $110,000.
Part of the debt encompasses a $200,000 AUS overseas student loan. The debt was accrued during our 25 year marriage and funded both my studies and both our living expenses at the time. I am a DR and my husband hasn't worked in 11 years as we have a special needs child. I have full custody of this child now and substantially lower income due to my childs 24/7 needs. I cover all costs of my child. My question is, does the student loan make up a liability in the settlement, this is how I have derived at the negative asset pool?I keep getting differing opinions from lawyers. If it doesn't I would be having to borrow money to pay out my ex. I would struggle to get a loan as my earnings are substantially effected by my parental responsibilities, and have the expense of a 40 hour a week carer to enable me to work days.
The student loan has to be paid when we sell our home and pay out the mortgage. I will already have a $110,000 debt and no assets, as I have no hope in hell that my ex will take on any of the debt. He has no job and is trying to get spousal maintenance out of me. Help, this is all overwhelming.
Part of the debt encompasses a $200,000 AUS overseas student loan. The debt was accrued during our 25 year marriage and funded both my studies and both our living expenses at the time. I am a DR and my husband hasn't worked in 11 years as we have a special needs child. I have full custody of this child now and substantially lower income due to my childs 24/7 needs. I cover all costs of my child. My question is, does the student loan make up a liability in the settlement, this is how I have derived at the negative asset pool?I keep getting differing opinions from lawyers. If it doesn't I would be having to borrow money to pay out my ex. I would struggle to get a loan as my earnings are substantially effected by my parental responsibilities, and have the expense of a 40 hour a week carer to enable me to work days.
The student loan has to be paid when we sell our home and pay out the mortgage. I will already have a $110,000 debt and no assets, as I have no hope in hell that my ex will take on any of the debt. He has no job and is trying to get spousal maintenance out of me. Help, this is all overwhelming.