Where do I start?

Step one is to get all the details down on paper. This is the only way you can attempt to get a clear image of your personal finance. Please see our online budget planner which should help you set out your commitments in a clear and easy to follow format.

But my spouse is still spending money

If you fear that your spouse may make your situation worse, you should take steps to restrict or control their spending. It is very important to remember that a joint account makes you jointly liable for all the spending.

Joint accounts

If you have joint bank accounts, you could ask your bankers to freeze these until you have reached a settlement. This, of course, would mean that neither of you could draw on the accounts. An alternative to doing this would be to close your joint accounts and arrange for payment to your spouse accounts to control spending.

Credit , store cards and personal loans

If you are joint account holders of credit, store cards or personal loans it could be clever to take action. Beware though if you were to cancel the contracts, any money owing would become immediately payable, however, you could reduce the limits on credit cards and store cards to that which is owed.

Top Tips

  • Always make sure that you make a copy of anything you send and try to keep correspondence in date order.
  • Never ignore any correspondence.
  • Don’t bury your head in the sand.
  • Let your creditors know about your situation before you start to miss payments.
  • Joint accounts mean joint liability.

FAQ‘s about Divorce Debt

  • Should I consolidate my Divorce Debt?
  • What can I do about the Divorce Debt I have accumulated?
  • Would consolidating my divorce debt be a positive thing to do?
  • Do I need help to sort out my bank accounts now I’m divorce?
  • How do we share the divorce debt?

What Can We Do at Divorce Debt

The most important thing that our team at Divorce Debt do is to listen to you. Once we know the position that you are in, we can offer you assistance. We do not have a ‘one product fits all’ policy and we will look for the solution that best suits your needs.

Debt Management Plan

This is an ethical and cost effective way to manage the repayment of your debts to your unsecured creditors, with one regular and affordable payment. Divorce Debt will agree an amount that you can afford each week or month with you. We will then contact your creditors to agree acceptance of the offer and ask for suspension of fees and interest.

We will also conduct regular reviews of your situation, issue you with statements quarterly, deal with correspondence from your creditors whenever necessary and provide you with updates on request.

Full & Final Settlements

If you have recently received a lump sum of money for example, from a remortgage, inheritance, back-pay or any other source, that wouldn’t fully repay your existing unsecured creditors; speak to us. Divorce Debt could negotiate to settle more of these debts than the actual funds you have available.

Individual Voluntary Arrangements (I.V.A.)

Working with hand picked specialist partners, Divorce Debt is able to assist customers who are looking for a more structured repayment term than a Debt Management Plan, clearing your debts by instalment within pre-agreed timescales without the need for Bankruptcy.

Contact us in confidence on: 08448 247 269, or Email