Steve’s marriage fell apart. Then he discovered a $25,000 debt
When Steve’s marriage ended, his biggest surprise came when his wife discovered the great debt from the productive expenditures.
As the only bread winner, Steve had little attention or never paid attention to where or how he was spent. Only after division, expenditure habits and debts appeared. His wife lied about the costs of purchases with cars, travels and clothes.
Secret debts and secret bank accounts may be unwanted surprises during divorce.Credit: Karl Hilzinger
After leaving, he secretly purchased a credit card in his common names and obtained an additional credit card debt of $ 25,000. At that time, Steve is legally obliged to technically still marry, and the reimbursement burden fell completely to him because there was no profit.
Steve quietly accepted the debt to pay. He struggled to pay for the next two years. They used income from the sale of their homes to solve their personal debts.
At the end of his fifties, Steve’s confidence took a blow because he had to start to build his financing from scratch. However, the story is not a rare story.
Is financial loyalty a crime?
Bill Kordos, who is the head of Family Law in Australian family lawyers, said that financial loyalty in Australia is not a crime, but may have legal consequences, especially in divorce cases.
“Although the 1975 Family Law Law does not explicitly call it with the terms of financial loyalty, the case -law shows that it is an important role when the property pool is ultimately calculated and divided into the concealment of assets, hiding or trying to keep the money confidential.”
“More importantly, one side may argue that a part or all debt can be divided by the court independently of the legal organization.”
