Divorce debt danger

Even though divorce rates are falling, Norwich Union states in its report on the cost of splitting that the average couple has to fork out £28,000 when their marriage ends, twice the amount spent in 2003.

Simon Quick of the insurer said: “Divorce is always a difficult time for families and can often be a long, drawn-out process taking 12 months or longer to resolve.

“Not only is it an emotionally stressful time but the experience can add to money worries and an increase pressure on the family wallet.”

He said that it was “obviously important” that couples have a debt management plan for the future.

Paul Westcott of divorce law firm Last Cawthra Feather agreed, saying that he had seen an increase in the amount of pre-nuptial agreements, a sign of planning for the future, not matter how unwelcome or unlikely the prospect of divorce may seem at the time.


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