If you have a Japanese wife and recently found that she has debt, you might wonder what kind of reasons they make debt and wonder how you could support her.
Also if you are a wife living in Japan and have a huge debt, you could wonder what could be the best solution.
In this article, I cover the following.
- Reasons some Japanese wives have debt
- Possible solution for paying back debt
After reading it, I hope you will understand the situation of Japanese wives who have debt.
Hi, I am Hiro from Tokyo and I was born and raised here and well understand overall Japanese culture.
Reasons some Japanese wives have debt
There are a certain wives who have debt without telling their husbands.
According to a survey of 151 Japanese women who had experience of lending money without notifying their husbands done by an insurance company called Hoken Mammoth, the reasons of making debt is as follows.
| Reasons | The number of people |
| Living costs (food, house rent, etc.) | 60 |
| Shopping | 39 |
| Credit card payment | 27 |
| Hobby | 25 |
| Entertainment | 13 |
| Medical fee | 10 |
| Gambling | 8 |
| Education for kids | 8 |
| To return debt | 8 |
| buy vihecle or reform | 5 |
| Travel or transportation | 5 |
| Ceremonial occasion | 5 |
As you can see many reasons for making debt are due to their living cost.
Living cost
Japanese wives (especially housewives) tend to control purse strings and check the daily expense every day.
If they are jobless housewives and husbands income is not high, they could easily lack of enough money to make ends meet.
Furthermore, if there is any event of high expense such as being in hospital for a long period, they end up losing all the deposit and lend money.
It could be a small amount from the beginning but it could be multiplied if the returning is delayed or the loan company is illegal and interest rate is extremely high, and it could be huge amount in the end.
Have the habit of wasting money
Some wives could have the habit of wasting money (buying branded bag or clothes) even before their marriage.
Furthermore, some of them couldn’t have a lower standard of living even after monthly expense is increased due to quitting jobs (become a housewife) or having kids and they could end up lending money.
Get Addicted to gambling
Some Japanese wives could be addicted to gambling such as pachinko (Japanese pinball), investment or betting on horse racing.
Once they lose, they become enthusiastic to return back the lost money and end up making debt.
Possible solution for paying back debt
According to a website called “Legal mall by verybest” owned by a legal firm, the possible solution for their debt is as follows.
Reference: https://best-legal.jp/housewifedebt-9800/
Voluntary liquidation
Voluntary liquidation is the way to reduce debt not through by court but through by lawyers support.
There is a law called “interest rate restriction act” and if there is overpaying debt made by illegal consumer loan company, the lawyers help reduce their debt by legal way based on this law.
Start a new job
To pay back all the debt, starting a new job could be the best choice for the wives.
If they have a habit of wasting money they can focus on their job rather than wasting money and as a result they can save much money.
If going to a company to work is difficult due to their circumstances, they can consider working from home such as web writing, editing videos, etc.
Even if it is a small amount of income, all amount of the added income can be for return on their debt.
Individual bankruptcy
If they make an individual bankrupt, all of their debt can disappear, however, they also need to waive their all asset.
If there is a joint guarantor for the debt, the joint guarantor instead must return all the debt, so you would possibly let the person into trouble because of your decision.
Conclusion
In this article, I introduced wives who have debt in Japan and how they should solve this problem.
Thank you for reading this article till the end.
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