Traditionally, when we go through periods of economic downturn there is an upsurge in the divorce rate. Financial problems are one of the major factors that lead to divorce in the UK.

There has been a rise in the number of people residing in the same house after splitting up due to circumstances such as negative equity and fear of repossession and ultimately bankruptcy for both parties.

It's important that during and after the divorce that each individual keeps in mind the financial circumstances of both partners, at least until all joint financial commitments, such as houses and debts are divided. Unfortunately, when one partner goes bankrupt the other partner soon follows.

View the following sections of Debt Advisory Line for more information

• IVA
• Trust Deed
• Debt Management
• Debt Settlement
• Reclaim Bank Charges
• Mortgages
• Bankruptcy