Debt through divorce and separation

“It is thought that women who work full time are 29% more likely to get divorced than those who stay at home!”

Divorce debt and who is affects.

When a couple decide to separate or get divorced, the financial implications can be wide ranging and very serious. Divorce debt can be both emotionally draining and affect standards of living for both parties and their children.

Divorce, debt and their long term effects.

Because caring for the children after divorce often means that the person who is responsible for them will not be able to work and could mean having to seriously consider their options if they are in work. Obviously, this will directly impact their income and will affect their needs and long term goals for the future, resulting in divorce debt.

Maintenance is normally a major consideration for the party without the children. This can take the form of some form of maintenance for the children and perhaps for their spouse. When it comes to new partners, this situation can have an impact on their future, both financially and emotionally.

Debt after divorce - Is there any financial help available?

Debt problems are very common for a lot of couples after separation. It can be especially difficult where only one party works full time.  Get free debt help for single parents in England.

Because of this consideration must be given to obtaining work, state benefits and Financial Orders from the Court to secure income and in particular housing. Find free IVA advice and debt help for!

Due to the fact that every divorce or separation is different and each couples circumstances and finances are different, it is extremely difficult to generalise.

Long and short term credit - how can divorce affect my credit rating?
How do I prevent my divorce debts from affecting my dependants?
I don't want to become bankrupt. Can I prevent divorce debt causing this?
If I consolidate my divorce debt, would that be a wise move?
Now that we have separated, how do we share the debts and sort out the bank accounts?

Click here for free help and advice regarding divorce debt and other personal debt problems or call FREE on our phone helpline (0800) 018 6868 to speak to one of our trained advisors.