Credit during separation

A separation is not only associated with strong emotional stress, but also with costs. At least one of the previous partners needs a new apartment, which often requires a loan to set up. However, borrowing during the separation can be difficult.

Does the lender need to know about the separation?

Does the lender need to know about the separation?

In principle, the lender does not need to know that he is granting a loan during the separation. If this goes peacefully, even taking out a loan together is still conceivable. However, it is not permissible for one of the two partners to take out the loan alone and, despite the impending separation, to state the income of the ex-partner as security for the loan. The fact that banks take the spouse’s income into account when calculating the creditworthiness without the spouse also signing the loan agreement is based on a legal peculiarity.

According to this, spouses are mutually liable for loan liabilities, the raising of which has served the common life, which is certainly not the case with a loan during the separation. The indication of the partner’s income suggests an intact relationship, so that a loan obtained in this way can be assessed as fraudulently acquired during the separation phase and can be terminated by the bank at any time without notice. These concerns do not apply to joint borrowing despite separation, as the partner who also signs the loan agreement expressly confirms his joint liability.

Credit from individuals during the separation

Credit from individuals during the separation

For the economically weaker partner, a private loan is ideal as a loan during the separation. Such can be applied for via platforms for brokering credit between private individuals as lenders and borrowers. When describing the loan request on a personal loan platform, honest information about the upcoming separation is an advantage, since the private lenders registered there often make inquiries for social reasons and also out of pity for the loan seeker. Despite the detailed credit description, the data remain confidential, because the lenders learn that a loan is requested because of a separation, but not the address and bank details of the loan seeker that are known only to the platform operator.

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