Credit during marriage

If a contract is concluded, the basis is mutual trust, which is defined in writing by means of an agreed framework. Contractual relationships between spouses, on the other hand, still have the nimbus that criminal energy must be stopped. In order to avoid this impression, it is better to forego a contract.

A credit is not a matter of belief

A credit is not a matter of belief

The bond for life is closed, all traffic lights are green. Maybe a building loan is under discussion, a modernization loan, a new car or some other purchase that goes beyond the liquid available financial framework. It may be tax considerations that make a long-term loan seem cheaper than paying cash straight away.

Once the decision has been made in favor of a loan during the marriage that should be borne by both partners, fair framework conditions must be defined. The basis of every contract is the fact that the signatories agree to the agreements. These are all the people who signed the contract. On the part of the borrower, this can also be both spouses.

Signing the contract that regulates a loan during marriage is not about feelings, but about the facts that are set out in the contract. As a rule: amount of the loan, term, repayment terms. If the borrower is two people, both are responsible for ensuring that the lender gets his money back, regardless of how the spouse’s life situation develops. In the best case, everything is going as planned and both can toast together after repayment of the last loan installment.

Contracts also apply in the worst case

Life is not a dream concert and disharmony is not always avoidable. The credit continues during a marriage, whether the sole earner has lost income due to illness or accident or does not live up to the marriage, which was promised before the altar. The contract lasts in any case and there is no malice on the part of the lender if he insists on repayment. In the case of temporary problems, a postponement may be possible. If one of the borrowers fails due to illness or death, the other legally assumes all of the obligations.

So check every binding beforehand

So check every binding beforehand

Personal responsibility is required to check the conditions beforehand in the worst case. Is the borrowing sensible and can the installment payment be made, perhaps in worse conditions, but also in the event of a spouse’s failure. Signing the loan agreement to do the partner a favor so that they can fulfill their dream of a new car or sailing yacht is well-intentioned, but it can also result in a long-term limitation of their own quality of life.