Debt restructuring in divorce 2019 »Common debt in the test!

A debt restructuring in divorce can help save a lot of trouble. Because in principle, with credits taken together, the creditor can choose from whom he demands the money back. No partner can be sure that he only has to pay half, the other half has to be taken over by the spouse.

Such problems can be avoided if the joint loans are replaced by separate ones. This can also be worthwhile from the interest charge.

What is still to be considered in a rescheduling after a divorce, you will find in our guide on debt restructuring after divorce.

Car loan of the wife still a residual debt of 4,000 USD open. 

Car loan of the wife still a residual debt of 4,000 USD open. 

Loans, which only one partner has taken up, this must pay back even after the divorce alone, for example a car loan.

The two spouses have a total of 76,000 USD after deduction of debts, which is 66,000 USD more than at the beginning of the marriage.

Everyone now has a claim to half of the gain, so 33,000 USD. Receives the wife now the sports car with a residual value of 8,000 USD and other assets in the amount of 25,000 USD, then she can argue that she has because of the remaining debt of 4,000 USD only a gain of 29,000 USD and demand another 4,000 USD.

Reduced with a fixed income

Reduced with a fixed income

As a self-employed person, he usually pays higher interest rates, which can be significantly reduced by a partner with a fixed income. Conversely, it is with officials, they have very low interest rates, so it is worthwhile if the other partner draws them as a second borrower. 

Often, joint lending is worthwhile. Especially natural, if you have a partner with a much better credit rating. If he is self-employed and his wife in the public service, then it is worthwhile for him to take out loans together with her. 

Although both have a similar credit rating, the common borrowing is usually worthwhile. But what makes sense in a well-functioning marriage can be a problem in divorce. After all, by no means everyone is liable for half of the debt, but the creditors can choose who to turn to, if the money is not regularly paid.

Since the hint does not help, they have taken the loan together and therefore would pay only half. Of course, the partner who had to pay the loan can then reclaim half of the money from the former spouse. But that can be difficult.

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