A divorce proceeding may be of a different nature (amicable, faulty or particular) and follows well-defined steps: petition for divorce, conciliation hearing (passage before the judge), order of non-conciliation (measures taken) , subpoena and judgment.
During these phases, the financial consequences are mentioned. At that point, you will be able to take the necessary steps to deal with the imbalance caused by this change.
Financial consequences of a divorce proceeding:
Each divorce is different since it is related to the couple and the nature of the marriage contract. Nevertheless, in a so-called “classical” marriage contract, certain changes are inescapable:
First of all, real estate in common are distributed. In this case, the spouse who receives a larger share must pay a sum of money to the other. This transaction is called the “redemption of cash”. To put it simply, he buys back the other spouse’s share. This payment is defined in the non-conciliation order and its amount is indicated in the liquidation act drawn up by the notary. The repurchase of mortgage gives you the opportunity to buy back your cash. This financing solution allows you to gather in one monthly payment your own personal loans in progress as well as the payment due to the ex-spouse.
In the case of consumer loans, if they were jointly contracted during the marriage, the borrower and the co-borrower are required to continue repaying them until the end of the loan or to anticipate repayment.
However, the charges you must assume remain the same: rent, electricity, water, telephone, any credits contracted in your own name as well as your share of the repayment of appropriations contracted in common … In addition there are additional expenses , such as a possible alimony or your taxes now calculated on your own.
Income is divided by two, since only your salary remains to regularize these expenses.
Acquisition of cash loans to face a divorce
To cope with all of these additional expenses caused by this change in circumstances, a buyback of cash loans can be useful. It allows you to consolidate all your loan repayments and a possible delay in tax or bank overdraft in one single credit. In addition, put in place a cash plan will allow you to reserve certain amount of money to offset the large expenses related to a separation, such as a purchase of cash or a move-in-house.
Thus, the management of your budget is simplified and your financial situation remains balanced despite this upheaval. You have decided to set up a buyback of cash loans to anticipate this type of unforeseen?
To consolidate your loans and incorporate a cash flow to protect yourself against the vagaries of life, take a few minutes to complete our online simulation form and do not forget to enter the amount of cash you want to get.