As a divorce attorney, I see a lot of marriages that suffer from financial stressors. It has been a matter of simple observation that debt creates marital stress and sometimes lead to divorce.
In his short article “Bank on It: Thrifty Couples are the Happiest” Professor Jeffrey Dew explores the impact that spending habits and financial issues have on marriage from a scientific perspective. He points out that consumer debt has a negative impact on marital happiness. According to Dew’s review, the “research indicates that consumer debt (e.g. credit card debt) plays a powerful role in eroding the quality of marital life.” In fact, he goes so far as to conclude that “…couples who are wise enough to steer clear of materialism and consumer debt are much more likely to enjoy connubial bliss.”
While debt is may not be the main or only cause of any divorce, it is worth considering the impact of debt on your marriage. It may be far wiser to pay off your credit cards and save your marriage than to pay a lawyer to handle your divorce.
Randolph (Tré) Morgan III is an experienced family law attorney accepting cases in Raleigh, Cary, Apex, Garner, Fuquay-Varina, Clayton, Smithfield, Wake Forest, RTP, Durham, Chapel Hill, Holly Springs and surrounding areas. He focuses his practice in divorce, child custody, alimony, child support, equitable distribution, property division, paternity, guardianship and other family related matters.