Is the Economy Affecting the Divorce Rate?

The recession is taking its toll on more than just the unemployment rate. It's no secret that in these tough economic times, the housing market has taken a hit. Not only are people falling behind on their mortgage payments, but some homeowners are even upside on their mortgages. Many homeowners in this situation struggle with feelings of shame, embarrassment, and a diminished sense of self-worth. But the housing crisis may be taking it's toll on more than just homeowners' feelings and emotions. Several reports are suggesting that unhappily married couples are staying together solely because of their economic situation.

This actually makes perfect sense. Even in a strong economy couples worry about how a divorce will affect their finances. But with many Americans out of work and countless homeowners behind or upside down on their mortgages, people are now really thinking twice about filing for divorce. For some couples, it's just not financially possible to get a divorce. They may not be able to support themselves solely on one income, or maybe they cannot afford to make child support and alimony payments. And because of property division laws, other couples my refrain from filing for divorce because they don't want to incur their spouse's debt. Another reason people are staying in an unhappy marriage? Without being able to recuperate a large return from selling the marital home (either because the home drastically decreased in value or because the homeowners are upside down on their mortgage), people do not have the finances to lead separate lives.

No one should feel trapped in an unhappy marriage if they truly want a way out. If you and your spouse are hesitant about filing for divorce simply because of your economic and financial situation, please take a moment to contact Lawrenceville divorce attorney Douglas N. Fox. There are always options and alternatives to consider that Mr. Fox can discuss with you to help you find a way out of your current situation. To learn more, please feel free to contact the office today at (770) 277-4883!

Categories: Divorce, Family Law