Debt is often a precursor to divorce

Jun 18, 2021 | Divorce

If a Colorado married couple encounters financial challenges, it can have adverse effects on their relationship. Especially if they are constantly arguing about rising debt, one spouse might feel like he or she is not appreciated or that the other spouse is blaming him or her for financial problems. In such situations, if spouses are not able to peacefully discuss money matters, it may cause a breakdown in their relationship that ultimately leads to divorce.It is not uncommon for the average married couple to experience financial problems at some point in life. What matters most is how each spouse reacts to such problems and, more importantly, how they treat each other as they attempt to resolve the issues at hand. Data shows that financial disputes are often a key factor toward divorce.

Many spouses say that debt causes marital dissatisfaction

Studies show that many spouses say there is a direct correlation between their level of satisfaction in marriage and the amount of debt they happen to have at the time. The higher the debt, the less satisfied they are with their relationships. Many spouses wind up determining that filing for divorce would be better than living in a constant state of frustration and confrontation with a spouse.

Financial disagreements can carry over in a divorce

If a pair of spouses are always fighting about money, there is a good chance that they will encounter challenges as they work toward a fair divorce settlement. Marital property consists of all assets and liabilities, which would include financial debt that one or the other spouse accrued during marriage. To protect financial interests during property division, child support or alimony proceedings, it is helpful to request support from an experienced family law attorney.

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