"Large Debt from Stock Investment Failure... My Wife Says She Wants a Divorce"

"Never cheated... A lifetime faithful to family"
"Losses occurred from investments, trying to cover them"
Lawyer: "Wife's mental suffering... Possible to claim alimony"

Photo unrelated to the article. Source=Pixabay

A man sought advice, saying he was on the verge of divorce due to a sudden large debt he had incurred.

On the 25th, YTN Radio's 'Attorney Jo Inseop's Counseling Center' reported the story of Mr. A, who said his wife demanded a divorce because of the debt he owed. According to the report, Mr. A is the head of a family married for 30 years with a son and a daughter. Recently, he was scammed in an investment and incurred a large debt, which his wife found out about.

He had recently heard from a university senior that "a pharmaceutical company is developing a new drug, and there is no problem with approval from the U.S. Food and Drug Administration (FDA)," so he borrowed money to buy stocks. However, the company failed to develop the new drug, and the stock price plummeted. Afterward, the senior cut off contact with Mr. A and disappeared. Upon learning this, Mr. A's wife hurriedly gathered money to repay part of the debt, but after realizing the amount was much larger, she filed for divorce.

Mr. A said, "My wife said she can no longer live with me. I have never cheated in my life and have been devoted solely to my family." He added, "The debt was incurred trying to cover losses from investments made for the family. I borrowed even more money, and as a result, the debt snowballed." He continued, "We have shared many years together, but my wife demanded a divorce even after hearing my situation. I feel hurt by her." He also said, "We worked together for less than 10 years during our marriage. I have worked hard to accumulate the family's assets," and asked for advice, saying, "I do not want to give my wife a large share in the property division. I want to know if that is possible."

Attorney Seo Jeongmin explained, "Even if the debt was incurred to support the family, if it was due to reckless investment and the amount is substantial, it can be recognized as a fault. Since the spouse caused mental distress, if the other party claims alimony, it is likely to be accepted. Of course, a spouse at fault can also claim property division if they contributed to the formation of marital property." He added, "In principle, personal debt is not included in property division, but if the debt was incurred for living expenses, it can be considered joint marital debt. However, since Mr. A invested secretly and incurred debt to cover losses, it is difficult to see this as debt arising from ordinary household legal acts. If the wife can prove she knew about the debt, it can be included in the property division."

Netizens who read the story responded with comments such as, "It is natural for the wife to demand a divorce in this situation," "The problem started with secretly making a large stock investment," and "I feel sorry for Mr. A's family situation."