Divorce and repurchase of credits: instructions for use


Divorce is the source of emotional and psychological concerns as well as financial difficulties. This is why, the repurchase of credits can be an interesting solution to start serenely a new life and face future expenses.

Divorce and its financial consequences

Divorce and its financial consequences

As soon as you find yourself in the process of divorce, you have to face many costs, such as the costs of lawyer and notary, the cost of relocation as well as that of the new equipment to be bought. Once the divorce decree is pronounced, the community, which notably includes the house, the car, all the loans or the overdrafts, is liquidated, which means that all the material goods are divided. Loans and joint accounts are separated in order to cut all financial ties with your former spouse. Therefore, you must take charge of your share, which leads to an increase in your debt and a significant drop in your budget. Separation is one of the most common causes of over-indebtedness.

The solution: buying back credits

The solution: buying back credits

Depending on your situation, you have the option of restructuring your debts after a divorce. Credit consolidation can include a cash buyout, consumer loans, mortgages, alimony or even compensatory benefits. The advantage is to be able to reorganize all of your loans to match them into one while reducing your monthly payment. It can be useful to fully assume your credits after the divorce by spreading your debts, but also to build up capital in order to buy back the real estate share of your ex-spouse.

A special situation: the buyout of the real estate share

Divorce and its financial consequencesA special situation: the buyout of the real estate shareDivorce and its financial consequences

This situation needs the implementation of a cash buyout, that is to say the buyout of one of the two shares following the division of a property after the delivery of a divorce. Thanks to this solution, one of the two ex-spouses can buy back to the other the share of the accommodation, of which he will then be the full owner, provided that he has sufficient income. Indeed, depending on the date of purchase of the property, it is not always advisable to resell the common property. For example, if the mortgage is less than two years old, it is still far too little repaid, which will most likely make you lose money.

The optimal solution is then to make a grouping of credits so as not to lose the reimbursements already made. To assist you, the loan buy-back expert offers you a free comprehensive diagnosis adapted to your situation.

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