You are a couple, you want to apply for a credit and you ask yourself the following questions. Is there a difference if I am married, separated or living together? Is my spouse’s data taken into account and will he / she be informed of my approach?
Theoretically, the spouse’s data is not necessary if the criteria linked to the applicant’s budget are met. The calculation of the budget will define the amount of the credit. This would mean a priori that the situation of the spouse would not be taken into account.
In this case, why is the spouse’s information requested when filling out the credit application form?
Spouse with credit problems
Concretely, some banks require the spouse’s contact details in order to check their creditworthiness (Zek + prosecution). If the bank discovers that the spouse has lawsuits and / or acts of default of property, it can refuse to grant the loan despite the good situation of the applicant.
Joint with a good financial situation
If the spouse receives income and his financial situation is healthy, the applicant would have 3 advantages to take it into account in calculating the budget:
- Increase your chances of getting a positive response
- Possibility of increasing the credit amount
- Improve scoring, and therefore possibility of negotiating a better rate
Discretion with regard to the spouse
The information of the spouse is only necessary to allow the bank to have an overall overview and the closest to the reality of the situation of the couple. The spouse will not be contacted or engaged in the credit request.
In the event of separation…
Separated persons are considered to be single. So, there is no need to communicate the information of the ex-spouse.
Cohabiting partners are considered in principle to be single persons, with the exception of the BCGE, which nevertheless takes the spouse into account when calculating the budget.
LCC law: cohabitees and couples married in the same boat
Banks today are increasingly seeking to obtain maximum information on the general situation of the couple and decision-making.
There is a strong probability that the new LCC law planned for 2014 will force all banks to systematically require spousal data for both married couples and those living in cohabitation, and that the insolvency of the spouse will result in a categorical refusal even if the applicant has a healthy situation and meets the criteria of the budget.