Credit in midst of separation year
If a marriage fails, the separation from the former partner brings with it many changes. Because one separates usually not only from the partner, but also from half of his assets and his assets. Not always an easy task that can lead to much conflict and ultimately employs the courts.
But for most of them living apart, this also means that they have to build up a new household after the breakup. Because if this is suddenly only half available, must be quickly provided for replacement of all those things that are no longer present by the separation, but urgently needed.
At the top of the list are, of course, furniture and technical equipment that had to be left behind by the former partner. But also a new place to stay has to be found for the partner, who had to leave the previous apartment or house due to the separation.
Due to the new acquisitions a lot of money must be taken in hand, which is available in the least in sufficient amount. A loan during the separation year must therefore be close to closing the financial hole
It must be paid attention to the credit during separation year
A separation does not mean that the divorce has already been filed. Therefore, care must be taken during a year of separation to ensure that it is only recorded when the filing of the divorce papers in court also officially indicates that a separation is sought. Otherwise, the loan must be borne by both partners during the year of separation. Should the borrower be unable to settle the loan, the bank would automatically contact the spouse. Even if they are already separated from the table and bed.
For this reason, it is very important that the loan is not applied for during the separation year until the separation has been officially announced. Because then each partner is liable for his own debt and can no longer pass this on to the other partner.
When borrowing, the banks always inquire about the marital status of the borrower. Even if the divorce is not final yet, because you are currently only in the year of separation, it is important that “separated alive” in the marital status is stated. Anyone who indicates that he is married will have to expect that the bank will only grant the loan if the current spouse signs it. However, since this will not be the case in the year of separation, one should correctly respond to marital status in order to avoid unnecessary delays or even refusals.
It should also be noted that the available portion of income can be reduced during the year of separation. This is especially true of those who have to pay for their ex-partner and existing children. These payments should be deducted from the freely available amount so that borrowing can be geared to the funds that are truly at your disposal and can be used as a monthly installment for repayment.