A divorce gives a huge attack on both your mental and physical health. A standard separation in agreement already costs you 1500 euros together. When you end up in a fight divorce, the costs can run up to a few thousand euros. Certainly if children are also involved. In addition, it is a long-term legal procedure.
In addition, a lot is also changing financially. If you took out a loan during your marriage, you may even be held liable by your ex’s debts. If you have taken out a joint loan, you are both liable for paying off the loan. A double signature must be given by
Borrow and divorce money
both you and your former partner. If this is not the case, you cannot usually be held liable. Then it is a personal loan and the person who took out the loan will have to pay off the loan.
It is possible that you get more debts after divorce, because you also take over half of the debts from your former partner. For example, think of an old work tax liability. If you are married in community of property, you must also pay off this debt. However, you can also choose not to pay this debt.
The Supreme Court will then determine whether this debt belongs to the household money. In the most favorable case, the debts can be acquitted.
Extra credit needed after divorce
The costs run extremely high during a divorce. You have had financial, emotional and physical damage.
It can then be useful to borrow some extra money to cover the financial costs. For example, consider revolving credit to be able to pay unexpected costs.
After the divorce you can choose to rent a property or still buy a property. Of course it is not easy to buy a house just as quickly just after a divorce.
Most couples will therefore first rent a house and will later purchase a house. You also often have the opportunity to take out a new mortgage in order to be able to finance your own house. Please note: with a mortgage it is very important that you have your own fixed income. Otherwise it is virtually impossible to take out a mortgage.