Episode 53: What happens to debt in divorce? Artwork

Stowe talks

Stowe talks is a podcast series designed to support people going through a relationship breakdown and all the challenges this brings. When a family breaks down, it brings with it a huge range of emotional, practical and legal complications. Going through it is tough, but making some simple changes to how you approach it can help. Asking and seeking support from others is a great first step.And, this is where this podcast series can help, giving you access to expert advice from some of the best professionals around and some legal insight. In each episode, hosts Matthew Taylor and Liza Gatrell, family lawyers at Stowe Family Law, are joined by a special guest to explore the issues a relationship breakdown brings - from dealing with a toxic ex-partner, how to co-parent, the challenges of blended families, handling finances and more. Getting the right advice can help dial down the stress, calm your fears, and help you through the process and on with life from a position of renewed strength. This podcast series is brought to you by the Stowe talks team at Stowe Family Law.

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Episode 53: What happens to debt in divorce?

February 19, 2025 • Stowe talks • Season 6 • Episode 53

Debts can add a layer of extra stress and complication to couples trying to navigate a divorce. What happens if one person builds up debt during the marriage? Who is responsible for the debt? What about loans from the bank of Mum & Dad?

In this episode, Matt & Liza explore the role of debt in divorce, the different types of debt and how they are viewed, who has responsibility for debits, the approach of the family courts and the link between debts and economic abuse.

00:00 Debt is often a part of divorce

01:09 Can you get divorced when you are in debt?

02:39 What are the different types of debt?

02:52 What are hard and soft loans?

06:40 What happens to any individual and shared debt?

08:48 How do you share any debt in a divorce?

11:12 What happens if one person builds up debt during the marriage?

14:47 How does the family court approach debt in divorce?

15:16 What is the gasp factor?

16:17 The changing understanding of domestic and economic abuse

18:58 What are structured debt arrangements, and how do they impact any settlement?

20:39 Matt & Liza’s top tips for dealing with debt in divorce

Taking control of your finances on separation: https://youtu.be/CIp6n4pgd9k
How to prepare for a financial settlement: https://youtu.be/ixzT30CyMo0
How to get a financial consent order: https://youtu.be/-FlSjw4tTXM
The dangers of a DIY divorce: https://bit.ly/3Tsvql7
Recognising and dealing with economic abuse: https://spoti.fi/3VndusS

Download our free in-depth handbook on how to complete a Form E: https://bit.ly/3A7MMvN and reviewing financial disclosure https://bit.ly/4hyZBjI

If you need support with the issues raised in this podcast, or would like to speak to a family lawyer, contact Stowe at: https://bit.ly/35WPSj2

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🔎 Access further free resources to help you through a relationship breakdown and beyond at Stowe support.

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This podcast is brought to you by the Stowe talks team at Stowe Family Law - https://www.stowefamilylaw.co.uk/