Loan Commitment in the Year of Separation?

2 Apr

First, the year of separation must be overcome, only then is a divorce possible. And that can be quite expensive under certain circumstances. Even if a marriage contract prevents a dispute over money, legal fees and legal fees are always payable to the still-married couple. Further editorial at http://2coolwallpapers.com

Costs often pile up even before the divorce

divorce

However, at least one of the two partners may incur unforeseen costs already in the year of separation. The year of separation was mandated by law to allow spouses sufficient time before the final divorce to thoroughly rethink this step. During this period of reflection, the spouses can no longer share a common household. In practice, however, the decision of most divorcing couples is already certain. Therefore, the year of separation is usually used by both parties to sort and reorient their lives. This includes the extract of a spouse from the shared apartment, this should not be completely dissolved. The common household is often dissolved before the final divorce.

On one or both partners so usually costs for the move, brokerage fees and deposit. In many cases, new furnishings must be purchased. Most of these expenses are concentrated in such a way that they often can not be paid out of their own reserves. A loan can help – but is it granted in this particular situation?

Keep a close eye on finances during the year of separation

On the part of the bank, in principle nothing speaks against lending in the year of separation. If you do not take up the loan with the spouse, but as the sole borrower, there are no problems with the separation of property. Banks usually ask married applicants if the loan should not be taken out together with the spouse. Finally, this provides additional security for the lender. However, the bank can not insist on joint borrowing.

It may make sense to talk to the bank about the upcoming divorce before borrowing. This is especially true if you receive alimony after the divorce. These should be taken into account from the very outset in the budgetary accounts, so that the credit installments will not overburden you later. In general, when borrowing in the year of separation, you should keep both loan amount and installment as low as possible. Because it is never predictable in advance, which costs will come with the divorce still on you, how the separation of property is ultimately regulated and how high will be any maintenance payments. If, after the divorce, it turns out that you have more money available to repay your loan than you originally anticipated, you can still make special repayments or talk to your bank adviser about increasing the monthly loan installment.

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