Since an upcoming divorce leads to high costs – including the necessary new home furnishings – a loan during the year of separation is in most cases unavoidable. A joint loan application by the two partners determined to split is possible, but requires a friendly and amicable divorce. In most cases, both ex-partners will independently take out a loan during the year of separation.
The borrowing during the separation year by the ex-partner with full employment
For the ex-partner, who had a complete job during the marriage, borrowing is easy even in the year of separation. He receives the desired loan on the basis of his regular income and pays it back. As the final agreement on possible maintenance is usually only made in divorce proceedings, a loan with flexible repayment options or the right to change the repayment agreement can be used as loan during the separation year phase.
If special repayments are possible without prepayment interest being charged, the borrower first chooses a long term and the associated low monthly repayments. Should he have to pay less than expected, he will use the additional funds available to him for special repayments. Alternatively, a shortening of the term can be agreed depending on the loan agreement. A flexible repayment justifies a small interest premium on the cheapest but rigid loan offer, especially for a loan in the year of separation.
Borrowing during the year of separation by the non or partial ex-partner
In many marriages, one partner works completely, while the other works exclusively in the household or only in partial employment. Less widespread is the equal financial management in connection with part-time work by both spouses. For the non-part-time or part-time ex-partner, the successful application for a loan during the separation year phase is difficult, since most incomes, even for a longer repayment period, are insufficient to cover livelihoods and loan installments. The inclusion of the spouse’s income in the relevant income for the credit check is questionable, even in the case of a separation year exceptionally spent in the previous dwelling.
Prior to the validity of the divorce title, the likelihood of recognition of alimony payments increases if the better-earning ex-partner expressly confirms their long-term payment. For the establishment of the new apartment comes as a credit during the separation year phase, in principle, a installment payment agreement with the furniture store in question. This can be completed in most cases without proof of salary. Consumers are careful when buying equipment on installments that they can actually afford the monthly installments. In addition, the possibility of installment payments only available to some furniture retailers should not discourage price comparison. In many cases, competitors who do not offer partial payments to their customers
The organized personal loan during the separation year
As an alternative to a bank loan, the loan offers itself during the separation year period via a platform for lending between consumers. This brings together loan seekers and private lenders, with the personal data being known only to the platform operator and the cooperating full bank. The required contacts are handled exclusively via the platform. This also applies to the credit transfer and repayment.
A distinctive feature of organized personal loans is that most private lenders pay less attention to the usual credit quality than to the intended use. They mainly write the credit inquiries, in which they classify the planned use of funds as meaningful. In addition, many of them lend to loan seekers, to whom ordinary commercial banks are reluctant to lend money. A private loan during the separation year period thus receives above all these ex-partners, who themselves earn little or no income from work. For a quick drawing of the personal loan request, a detailed description of your own life situation is useful.