Avoid financial STD’s

by | Feb 9, 2021 | Personal Finance

It’s Valentine’s Day soon – and love is in the air!
It’s all about hearts and flowers right now. But what about the STD’s especially the financial ones?

Financial STD’s refer to sexually transmitted debt – and they can have more severe and far longer lasting effects than the nasty physical ones!

While the physical STD’s might give you an irritable itch. A financial STD might see you lose your house and everything you have worked for. Even before you met your partner!

One does not have to be married to have financial STD’s

Here’s an example:

Bob and Susan have been in a relationship for nearly a year. Bob wants to buy a car, but he can’t get vehicle finance or a loan anywhere because he has a poor credit rating.

So Bob lovingly asks Susan to take out a loan in her name for the vehicle. And because Bob is the love of her life – she agrees.

Bob then registers the car in his name. So 3 months later, when they break up, Bob keeps the car. Susan is left heartbroken. And still has to repay the loan on the car that Bob and his new girlfriend are driving around in.

Don’t be Susan. Safeguard yourself against financial STD’s!

Different types of marriage contracts

You must equip yourself with the knowledge of the different types of marriage regimes. So that you don’t end up saying “I do” to a mountain of debt.

Married in community of property

Marriage in community of property normally means – what is yours is ours, what is mine is ours and what is ours is ours – all jointly.
This includes debt incurred while you are married. And even debt before you were married.

In effect this means:

  • If one of you goes out and splurges on a credit card, then both of you are liable for it.
  • That expensive fishing rod, those fabulous shoes and the unforgettable boys or girls night charged to the card – as a couple married in community of property, you are jointly liable for it.
  • Even if a debt is incurred solely in your partner’s name while you are married – the creditor can go after you for that debt as well.
  • If the love of your life has debt before marriage, you will also be liable for that full debt and debt repayment to the creditor.
  • When you can’t manage your debt repayments – and you apply for debt review with National Debt Advisors – it will have to be a joint application even if the one spouse has little or no debt to their name.


One of the most important things to remember is that being married in community of property is the default marriage system in South Africa. So no pre-nup – means you are automatically married community of property.

There are other types of marriage systems too – like ante nuptial with accrual, ante nuptial without accrual and of course, religious marriages.

To find out if you qualify for debt review under your current contract of marriage, please make contact with us via our contact forms.



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