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Family Breakdown

When a family separates, joint finances including any loans may need to be untangled. Find out what you can do to understand the process and minimise stress.
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Joni’s Story: Family breakdown

Joni separated from her husband, Jim, many years ago. She and the children stayed in the family home and Joni has paid the mortgage alone. She didn’t get a property settlement to finalise details and has only occasionally heard from Jim over the years. Before the separation Jim’s business was struggling and he was gambling heavily. Joni recently received a letter saying Jim was bankrupt and his share of the home was to be used to pay his debts. Financial Rights gave Joni advice about her rights and what steps she should take to protect her finances.

family breakdown

When to get help

Read through the fact sheets below and use the sample letters selected. There are lots of things to worry about when you are going through a family breakdown. Let us help with debt problems. Give us a call if you don’t know where to start or can’t find a solution for your problem. These are some of the common problems that arise:

  • You have a joint debts or joint assets with your ex and you need time to get advice and work through the situation
  • You can’t afford to pay your debts now that you are separated
  • You no longer live in the family home but the old utility bills are still in your name
  • You have separated from your partner but none of the insurance policies are in your name, can you still make a claim
  • Your partner pressured you into putting a lot of his debts into your name
  • There was financial abuse or domestic violence

Fact Sheets

These fact sheets include legal information which can help you navigate untangling joint finances when leaving a relationship.

Sample Letters

These sample letters will help you to draft an email to lenders or insurers where you need let them know about your situation.

Contact Us

If you need to speak to a financial counsellor you can call the National Debt Helpline on 1800 007 007

  • Monday to Friday 9.30am – 4.30pm (Sydney time)
  • Please note, the National Debt Helpline is answered by both Financial Rights (our service) and Uniting (NSW.ACT) which is based in Dubbo and provides telephone financial counselling, but does not have solicitors available. Our services are run separately, neither service has access to any information or advice given to or by the other service.

If you have an urgent legal problem call our Financial Rights Legal Advice Line on 1800 844 949 (NSW)

  • Monday to Friday 10am – 1pm (Sydney time)

If you are experiencing or recovering from abuse please visit our Financial Abuse webpage.

External Resources

Separating with Debt Guide

Money and Property: Working out how to divide your money and property after a relationship breakdown

Getting divorced or separating

 

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I’ve had a tough time dealing with my personal finances mainly because I’m not a numbers person, and financially sitting down and number crunching can be scary if you have procrastinated. Life does get in the way and because of extreme personal circumstances I had lost control of my financial well-being. Peter was a great person to get assurance that you’re on the right track or not and self-correct.