A new resource has been developed to help separating couples fairly resolve responsibilities when it comes to joint and other debts. The resource is called Separating with debt: a guide to your legal options and is available from ag.gov.au. It provides practical information to help manage debts during and after separation.
Federal Attorney-General, Michaelia Cash said the guide would assist to avoid situations where one party is left unfairly shouldering the burden of joint and other debts.
The guide brings together family law and consumer credit law information., options and referral points to support separating couples to achieve fair, enforceable arrangements about their debts so they can move on with their lives.
“Separating couples may not understand that consumer credit law options can assist when dealing with debts as part of a family law property dispute. This guide puts relevant information together for users”, The Attorney-General explained.
The guide is a commitment under the Woman’s Economic Security Statement 2020 and Preventing Financial Abuse Project under the Forth Action Plan of the National Plan to reduce Violence against Woman and their Children 2010-2022. It reflects the Government’s ongoing commitment to supporting woman’s safety and wellbeing in their homes, communities, work places and online.
TCS always recommend clients and customers seek independent legal and financial advice.
(Source: Joint Media Release by the Attorney-General & Minister for Woman Sept 2021)