When your relationship is already under strain, money worries can often prove to be the last straw.
And as the cost of living crisis continues to bite, this is certainly what divorce lawyers are seeing with some reporting a 132% increase in enquiries.
A similar acceleration in relationship breakups was seen following the 2008 recession with research then, as now, showing that financial difficulties were one of the biggest causes of separation.
Yet hand in hand with this, go worries about the cost of divorce itself – how to maintain the family home, how to afford a place of your own, how to meet legal costs – spiking concerns that some couples will feel forced to stay together despite mounting unhappiness.
How are financial pressures impacting separation rates?
Household debt is rising fast with credit card borrowing up 13% in July 2022, its highest level since October 2005.
More than three-quarters of UK households, that’s 53 million people, will have been pushed into fuel poverty by January 2023
Research published recently (August 2022), found that 55% of couples said their relationship had been hit by financial problems with 70% predicting they wouldn’t survive the months ahead.
The most cited reasons for separating were a lack of money coming into the household, not enough money to meet rising bills and disagreements over what to spend money on.
How we can help
Here at Wards Solicitors, our highly experienced Family Law and Divorce experts understand just how difficult and emotional contemplating separation can be, particularly in these difficult economic times.
We can offer a range of services to help address any worries and fears you may have and can offer solutions like mediation to resolve difficulties about finances or children.
Our family law and divorce solicitors specialise in what’s known as collaborative law. This offers a way for divorcing or separating couples to work together as a team, face to face, with trained professionals to resolve disputes respectfully, and more cost effectively, without going to court.
Having an initial meeting with one of our specialist family lawyers can give you clarity on your position and help you decide what to do.
Get in touch
Wards Solicitors has seven family and divorce law legal specialists and 13 offices across Bristol, South Gloucestershire, Bath and North East Somerset and North Somerset.
Our Family Law page here has further information on divorce and frequently asked questions.
We offer, where appropriate, a free initial half hour consultation to explain the divorce process clearly, outline all your options and help you make a plan for going forward.
In addition, we have a range of fixed fee packages we can discuss with you at your consultation.