About every third marriage is divorced in Germany again. A very high number, considering that you have sworn at the wedding nor the eternal love and above all things loyalty. Divorce is not just a separation from the person you once loved. The common household as well as the finances must be separated. If there was no marriage contract, then everything goes both ways. This means, among other things, that assets as well as debts are divided by two. See http://saltwaterconnections.org for an example
Especially with debts, this can be a very unpleasant thing. After all, who wants to take legacy issues out of the relationship when you really want to start off completely? But no one comes around to such a separation and division. In any case, not if the divorce at some point on the paper should be considered done.
A debt restructuring can help
Especially when it comes to dividing up debt, it always comes back to the big fight. Because nobody wants to take over the debts, so that a fair division must take place. If there are loans that both former spouses have signed, then both former spouses are liable for the loans. And since nobody wants to take over the loans alone, they have to be divided evenly by a rescheduling during the divorce. Incidentally, this also applies to all debts that might still exist in addition to the loans. These can also be divided equally by a rescheduling in the divorce, so that both parties have to bear the same burden.
In order to be able to carry out the rescheduling with the divorce quickly, it is important, since the current debt is known. For this purpose, all creditors and also the banks should be contacted so that they can name the current debt at a fixed deadline. These debts should then be added together and shared by two, so that each partner knows what the amount must be, which must be taken into account when restructuring the divorce.
Afterwards, each partner can look at where he wants to restructure his debt. We recommend that you always use a comparison computer on the Internet to select the appropriate loan. These show the best loan offers and even allow a little experiment. In fact, not only the desired loan amount can be entered into these comparison computers. It can also be set, how high the monthly installments can be or how long the term should be. Anyone who tries out different options here can tailor the loan perfectly to their personal circumstances and thus make sure that despite the divorce and the new life circumstances, it does not become an excessive burden.
By the way: Since the separation often also gaps in their own household arise and new furniture and various other things are needed, there is always a little money shortage. However, if you include the costs for the new acquisitions into the debt rescheduling during the divorce, you do not have to borrow extra money or sit in a half empty apartment for a long time.