Many couples who are separated, don’t realise how their marriage regime is still affecting their credit score or negatively impacting their financial future. Often, by the time someone realises that their spouse’s debts have stopped them from getting new credit, it is very costly to deal with it.
There are too many factors that could impact on marriage in Community of Property
- Threats to the assets of the joint estate when one spouse is struggling financially
- The impact of personal sureties
- Legal action against the income of joint estates, an example being the claim for maintenance from a previous marriage.
Did you know? Unsecured debt like loans and credit cards often do not appear on the credit report of both spouses’ married in community of property until the account is in default.
If you are struggling with your finances due to divorce or separation or issues like unpaid maintenance is affecting your personal finances, you need to speak to us. Fill out the form below and we will call you back for a free, no-obligation chat.
A marriage in community of property is undoubtedly the cheapest and most popular form of all the matrimonial regimes, although deeply flawed. In this form of marriage, the spouses’ estates (what they own/assets and any debt/liabilities) are joined…