Navigating Debt Review and Marriage: What South African Couples Should Know

Marriage is not just about love and commitment—it's also a financial partnership. If you're considering debt review, it's super important to understand how your marriage type affects your financial responsibilities.

Let’s break things down in plain English so you can understand how your marital contract can impact debt, especially if you're thinking about going under debt review.

Types of Marriage Contracts and What They Mean for Debt

1. Married In Community of Property

If you're married in community of property, you and your partner share a single financial estate. This means:

• All assets and debts are shared 50/50.
• It doesn't matter when the debt was made—before or after the wedding—you're both jointly liable.
• Going into debt review? Both of you must do it together since your finances are tied together completely.

2. Married Out of Community of Property WITH the Accrual

This one's a bit more balanced. Here's how it works:

• Before marriage: your debts and assets stay your own (Mr. is Mr. and Mrs. is Mrs.).
• After marriage: you share what's gained, and that includes both goods and debts acquired during the marriage.
• So if you or your spouse take on new credit after you wed, both of you become liable—50/50 shared like you're married in community.

3. Married Out of Community of Property WITHOUT the Accrual

This is the most separate of the bunch. It works like this:

• You're financially two separate people—no shared estate, unless you state otherwise in your contract.
• Your marriage contract will determine what is shared, if anything—like a property or a particular loan.
• Typically, both your assets and debts are totally individual.
• In terms of debt review, you can apply separately, and your spouse won't be pulled in unless legally bound via the contract.

How These Contracts Affect Debt Review

Once you understand your marital setup, you can better understand how debt review will affect you.

Married In Community of Property

• One estate = both people go into debt review together.
• Your combined income and expenses are assessed together.
• This also means your partner’s debt affects any restructuring plan.

Married Out of Community With the Accrual

• If a debt was made after marriage, you're jointly responsible—we're talking 50/50 again.
• Pre-marriage debt? Each person handles their own. You could go into review while your spouse remains unaffected.

Married Out of Community Without the Accrual

• Your finances stay separate unless the contract specifically says otherwise.
• Debt review for one doesn’t affect the other unless the debts are shared under contract.

Tips for Managing Debt as a Couple

Even if you’re in the most independent marital contract, being open about money is key. Here’s how to manage better together:

1. Plan Together

• Sit down and talk about debt, income, goals, and financial worries.
• Set a joint budget — even if your finances are technically separate.

2. Reduce Debt Jointly

• List all debts together. Prioritise what’s urgent or costing the most in interest.
• Look at options like debt consolidation. It could help even when only one partner is in review.

3. Know When to Keep Finances Separate

• If one partner has major debt, separation might protect the other legally.
• Always clarify these things in a marriage contract — it’s not unromantic, it’s smart.

Common Mistakes Couples Make

Here’s what to avoid to keep both your finances and your relationship strong:

• Ignoring pre-marital debt: Just because you’re married doesn’t mean your old debt vanishes. Know who owes what.
• Misunderstanding your marriage contract: Too many couples skip reading the fine print. That’s risky when times get tough financially.
• Silence about money: Keeping financial secrets can lead to serious trust issues. Be transparent — always.

In Closing

Marriage and money really do go hand in hand, especially if you're thinking about entering debt review. Knowing how your marriage contract impacts your financial responsibilities will help you make better decisions and ultimately ease the stress that often comes with debt.

If you're unsure about your financial obligations or how to proceed, chat to one of our certified debt counsellors. We’re here to help you understand your options and choose the best path forward — together or alone.

Because at Debt Review Centre, we believe everyone deserves a fair chance at a debt-free future—even couples!