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Married COP and Debt Review

Questions & AnswersCategory: Debt ReviewMarried COP and Debt Review
Anonymous asked 2 years ago

What are the implications when under debt review before I get married in community of property?

1 Answers
Matthys Potgieter Staff answered 2 years ago

Hi there,
 
Thank you for the question.
 
If you’re married in community of property you both will have to go together under debt review.
 
When you are married COP you only have one estate. This is the case with debt as well. The both of you together are deemed as one person and you cannot act independently irrespective of who signed for what. 
 
Therefore if you are married COP it will be a joint application and all the debt will be thrown into one pool. Your income will also be joined in the calculations and the payment of all your debt will commence jointly through one single instalment.
 
Kind regards