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VIC Wife's Debt After Separation - Am I Also Liable?

Discussion in 'Debt and Bankruptcy Law Forum' started by sdth76, 15 February 2016.

  1. sdth76

    sdth76 Member

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    I've been looking for a while now regarding how personal debt incurred after separation is handled and haven't as yet been able to get any clarity.

    If my ex-wife, who earns 25% more than me, racks up debts (credit cards, personal loan) and now we are separated, am I somehow responsible for that? Apart from splitting all child related expenses 50:50, we have been operating completely separate financially and I have not sought child support from her.

    Can her personal debt become part of our asset separation if/when we divorce?
     
  2. Sophea

    Sophea Well-Known Member

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    Hi @sdth76,

    The reason you haven't found a clear answer is because there is not one. The family court is not bound by hard and fast rules about what they will and will not include in the joint assets and liabilities of a couple whose affairs they have been asked to divide in a just way. Generally, once financial affairs have been separated following a couple's separation assets acquired and debts incurred at not taken into account, however there are circumstances in which they will be taken into account.

    A court will determine what is just and equitable in each case.

    Check these articles out: Property Settlement After Separation - Rarely a Case of 50:50 - Legal Blog - LawAnswers.com.au
    Property Settlement After Separation - Agree Now, Don't Pay Later - Legal Blog - LawAnswers.com.au
     

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