Important Takes For Husbands and Wives
ARE YOU ACCOUNTABLE FOR YOUR HUSBAND/WIFE’S DEBT — Here are some important things that many husbands and wives might like to know about individual and shared credit responsibilities in marriage.
What is known to many people and what most people cling to when it comes to marriage is that it is the start of a “shared everything”. In a sacrament, it is the union of two (2) people into one. Since becoming a husband and wife, two (2) people are now bound to share the same room, the same bed, the same goal, and entirely the same in almost all aspects of life.
However, amid all the “shared” versions of reality, there are surely some things that remain an “individual” take. Some couples like individuality with regards to things like their mobile phones — no checking of messages is a sign of trust for them. Others want to keep their individuality when it comes to their “boys time” or “girls time” with friends.
What about with debt? Surely, many people believe that like the properties acquired by a couple during marriage, debt is also a conjugal prize, or burden, from becoming. However, what many people do not know is that your husband or wife’s debt may not actually be your burden to carry.
Truth be told that there is a high cost of living in the Philippines nowadays and the word “loan” is no stranger to many people and most couples. There are several banks and lending companies that are willing to lend out their money to grow it through interest while making the people believe that they just want to help them in meeting emergencies or fulfilling dreams.
Many husbands and wives might have experienced dealing with aggressive collection agents due to the debt of their partners. Have you ever experienced having answered a phone call from an aggressive collection agent or receiving a text message because of your husband/wife’s debt?
Based on an article on ABS-CBN News by Aneth Ng-Lim, a person may actually not be held accountable for the debt of his/her partner unless the loan was made for the benefit of the family. Here’s what Section 4, Article 121 of the Family Code of the Philippines or the Executive Order 209 states:
“Payment of personal debts contracted by the husband or the wife before or during the marriage shall not be charged to the conjugal properties partnership except insofar as they redounded to the benefit of the family.”
Thus, based on the article, in case a collection agent of a credit card may not force you to pay for your husband or wife’s outstanding balance most especially if you are not sure if the expenses were made for the family. Morally, you may feel responsible to help your spouse and you may really do so. But, it is also important to know that, legally, you can never be forced to share your partner’s financial burden most especially if the debts were made for personal purposes.
Conclusion:
While this clearly explains that you are not accountable for the debts of your husband or wife, undeniably, being under marriage, it will be more helpful for your relationship to help each other in all ways possible. May the covenant and promise to stay as one and to help each other outweigh any difference that may ever try to set you apart whether physically or emotionally.