- Aug. 24, 2016
-- Debt plagues the minds of students and working professionals alike, creating a financial prison that is hard to break out of. In order to help couples take control of their debts, Austin-based template contract company, Nupwise, announced the release of their Agreement About Separate Debts contract.
With student loan debt rising at an alarming rate—up 6% to an average of $37,000 since 2015—it becomes increasingly important to specify in a marriage agreement whose debt belongs to whom. Many students will do anything it takes to graduate with as little debt as possible, although marriage or cohabitation can undermine one's efforts if a partner brings a lot of debt to the union.
Regardless of whether a couple stays together or not, acquiring each other's debts can be very burdensome. Creating an Agreement About Separate Debts is a great way for a couple to shield some of their liability for their partner's debt. Nupwise offers the Agreement About Separate Debts as one of six template contracts in their marital contract suite.
Founder, Brett Cenkus, expressed, "We want couples to spend more time being couples and less time worrying about financial uncertainties. With the price of legal services on the rise, we decided to offer the market an affordable law firm quality Agreement About Separate Debts, so young couples can benefit from financial stability, without breaking bank."
Braaten Woods, LLC d/b/a Nupwise is an online provider of legal forms and templated contract services. Their mission is to empower consumers to take control of their legal affairs. Their first contract suite is aimed entirely at marriage and cohabitation. The company is based in Austin, Texas. For more information visit https://marriagecontracts.co/
. Nupwise is not a law firm.