Divorce with no cash
My spouse and I have been emotionally seperated for the last 2 years, have decided to move ahead with a divorce. Our issue is how to manage it with no cash on hand. There were decisions made that slowly whittled away savings to the point we're living week to week. That means there's nothing available for lawyers, moving etc.
We have a house (Sydney if it matters), approx 60% LVR. Selling would net each of us a couple of hundred K each before fees etc. That's the only real asset, i can't see how we progress until it's sold.
There's not a lot wiggle room in the budget, though we're still on a 2% fixed rate for another 12 months. Besides continued cohabitation would there be any downside to moving to interest only payments using the difference to try save a 'divorce nest egg'?
Bonus question... We're in broad agreement around division of assets and living arrangements for our children. Is there a specific service we should be utilising as opposed to putting it through a divorce lawyer? Would like to keep at hassle free and cheap as possible. Thx