Getting married is not only about starting a family, but also about establishing joint property. Both husband and wife can decide on joint finances, they are equally responsible for them and they are equally responsible for the resulting debts. This means that if one of your spouses is in debt, the other must also pay back, even if, for example, you didn’t know about taking the loan. And at this point the question arises – can you take a loan without the consent of your spouse?
Can I take a loan without my spouse’s consent?
Marriage is a combination of two people not only in emotional terms but also financially. If, as a bride and groom, you do not make a decision to sign a comma, you will have the aforementioned community of property. According to the legislator, the marriage should inform each other about credits, loans and other liabilities and it should be their joint decision. Both men and women are equally responsible for the accumulated property and should manage it in a consistent manner that does not threaten either side.
Commonwealth and credit without the consent of the husband or wife
Many people find it impossible to get a loan without the consent of their spouse. This is not true and there are several institutions that allow this possibility and give money without the consent of the husband or wife.
Contrary to the obligations that fall upon us after marriage, many people wonder whether the consent of the spouse is necessary to receive a loan. In life, we may encounter various situations that we do not always want to talk about even to loved ones. Although it may seem unfair, it is possible to take out a loan without the knowledge of your wife or husband.
Some institutions also allow the possibility, however, impose certain limits on the amounts that cannot be exceeded. Usually it is several, sometimes even several thousand dollars. This is to protect against debts for which, in the event of problems, a person who was not aware of the loan taken out would also have to answer.
Fortunately, large loans such as a mortgage are not available without your spouse’s consent. There are a lot of formalities involved and, first of all, it would be difficult to hide it, and secondly, the husband or wife simply has to agree to it.
Who pays the debts?
As we have already mentioned, if you are in a community of property, you are equally responsible for the debts incurred during the marriage. You are responsible for it with no common property, regardless of who of you led to this situation.