In the majority of cases, one of the brides and grooms still has at least one loan to pay before and during the marriage. What he does not know is that this contract will have repercussions on his life as a couple and his financial situation once he gets married.
But in marriage, it’s for the better and for the worse. To avoid conflict, you must still prepare in advance for different situations and find a suitable solution if you have contracted several loans before marriage.
The best solution will be to talk to your future husband and think about the possibility of buying back loans to lower the interest rate of your loans and to facilitate the management of all your loans. In general, the method of payment of your debts depends on the patrimonial regime that you choose during your marriage contract. But in most cases, banks require the agreement of both spouses in case of repurchase of loan.
Consolidation of loan in case of separation of property regime
Who says separation of property says more financial and material independence. Apart from family expenses, each spouse has a great deal of freedom in managing his property and resources as he sees fit.
In addition, property acquired before and after marriage remains unique to everyone. Regarding debts, those that are not related to household expenses and the education of children are the responsibility of the person who has committed on his behalf. But, the spouse can participate in the payment if he wishes to help his partner.
The loan consolidation under a loan separation scheme is therefore no problem with the lending bank if your income alone can repay the monthly payment. But this may cause financial difficulties within the household.
Consolidation of loan in case of legal community
If your matrimonial regime is the community of property, your spouse will also be liable for the debts you incurred alone before the marriage, while the object acquired at the end of this loan is your own because you obtained it before the wedding.
If you and your spouse have only one tax bill, loan institutions also often require that your partner be your co-borrower in case of loan surrender because the tax on your loan is declared common.
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