Seven out of ten women would go bankrupt because of their lovers. These ladies would trust their partners and would easily accept to take on the debts of their darlings. The couple soon found themselves in a precarious financial situation. In reality, accepting debt deserves deep reflection. Find out all the information you need to know before making such a decision.
Endosser des dettes : comment ça fonctionne ?
When a person incurs debt, the financial organization may require an endorser. The latter will help the borrower in the event that he or she does not meet the requirements for this. Most of the time, the lender is in a precarious financial situation or has a credit history that presents a greater risk to the lender.
The endorser will then take the place of the borrower. He will then totally vouch for you, putting forward his credit rating. It’s like having credit in your name.
Most of the time, the endorser will vouch for a close friend, lover or family member. It is easier to trust. Nevertheless, vigilance and caution are still required. Indeed, it is not about doing a small favor. This is a real commitment for the endorser that could corrupt their financial health if something unexpected happens.
La réflexion s’impose avant d’endosser
Before you take on another person’s debt, you need to think carefully and use your best judgment. You must have a thorough understanding of the borrower’s financial habits. You need to discuss this in great detail. You must know his financial resources as well as his expenses since you become, in a way, responsible for them, too.
Even if the financial organization has deemed your credit file insufficient, you should take a close look at it. Before you sign anything, you need to understand their financial profile.
Here are some questions you should definitely ask yourself before making a decision:
- Pouvez-vous payer cette dette à vous seul ?
- Pouvez-vous payer la dette sans n’avoir jamais profité du bien ?
- Quelles seraient les conséquences sur votre situation financière si vous deviez payer cette dette ?
- Est-il possible de faire un suivi des finances de la personne que vous endossez afin de savoir à l’avance si la situation se corsait ?
Ce qu’implique un endossement de dettes
As soon as you take on someone else’s debt, the corresponding credit will have an impact on your own debt level. This will increase and will continue to increase until all the debt has been paid off. This means that your ability to take out credit on your own could be compromised.
In practice, it is as if you were the real borrower. The repayment history of the credit you have endorsed will also become yours. If you are late, your own credit rating will be damaged. This is why you need to make sure that the person you are vouching for is credible.
Finally, embarrassing situations can arise if the situation becomes difficult:
- L’endosseur encourt des sanctions dans le cas où l’emprunteur se défilait ;
- En cas de défaut de paiement prolongé, l’endosseur devra payer le solde de la dette ;
- Si l’emprunteur déclare faillite, l’endosseur se retrouvera tout seul pour rembourser la dette.
Given the stakes involved in taking on debt, you need to look beyond your feelings and always use your best judgment before jumping in.