Trying to escape debt? Don’t be a Bonnie and Clyde.
Just like their namesake husband and wife Bonnie and Clyde, believed they were too smart for the justice system.
Bonnie and Clyde, separated in the early 2000’s. They owned a house in Australia and one in Montana, USA. They did not finalise the divorce and property settlement.
In January 2013, Clyde and his business partner ‘Bill’ parted ways. Clyde sued Bill. Bill cross-sued Clyde, and the whole thing was a mess resulting in serious legal costs on both sides.
Clyde lost his court case in December 2013. He was left owing A LOT of money to Bill from the court case..
Now in serious debt and homes at risk, Bonnie and Clyde fast tracked their property settlement (I mean, it was only a decade since they separated?). Papers were lodged in the Family Court within 3 months of the failed court case. Bonnie got the house in Australia and Clyde the one in the USA.
The effect of the property settlement with Bonnie meant that Clyde had no assets in Australia to meet the debts he owed to Bill!– just a coincidence?!
Of course, this didn’t fly.
The whole thing was set aside by the Courts. At more expense to Bonnie and Clyde.
Don’t go rogue like Bonnie and Clyde, Get proper legal advice.