Financial Stressors during the Recession Increase the Risk of Virginia Divorce

Financial issues are a leading contributing factor to Virginia divorce, and can accumulate during times of economic instability, such as with the recent and continuing recession. In fact, many couples are at such a financial disadvantage because of the bad economy that they choose to delay filing for a Virginia divorce.

More than half of Americans have experienced financial stressors because of the bad economy, according to the National Marriage Project (NMP). Effects of this include: 

• worrying about paying the bills (reported by 34% of Americans);
• struggling with mortgage payments or foreclosure (12% of Americans); and
• reductions in income or unemployment (reported by 29% of Americans). 

This piling financial stress can cause turmoil within a marriage, and greatly impacts a couple's overall happiness. The NMP reported that 29% of the people polled agreed that the recession added financial stress to their marriage.

In addition, the greater your financial stressors, the less likely you are to experience a very happy marriage: 

• No stressors - 43% of couples who didn't experience financial setbacks due to the poor economy report having a very happy marriage.
• 1 stressor - the happiness rating drops to 39% when couples experience 1 of the 3 major financial stressors.
• 2 or 3 stressors - only 27% of Americans with 2 or 3 major financial issues report to being in a very happy marriage. 

Some marriages can withstand the financial turbulence that comes with a bad economy, while some divorces are merely delayed because of financial setbacks. If you're considering filing for a Virginia divorce, try talking to an experienced Virginia divorce attorney before making any decisions that may impact your future, and learn about how the economy has caused many women in your situation to postpone their divorce plans. 

Contacting a Virginia Divorce Attorney 

The decision to file for divorce usually comes at the end of a long and painful journey. In addition to the emotional and financial turmoil involved, there's also a lot of fear and uncertainty about what the future holds. Concerns about children, mortgages, and even just paying the bills or buying groceries can easily become overwhelming.

A Virginia divorce attorney at Hofheimer/Ferrebee can examine the specifics of your case to help you decide how much support to ask for, what child custody arrangement will work best for you and your children, and how to fairly divide your marital assets. Request a FREE copy of our divorce book for women in Virginia, or reserve your seat at our monthly divorce seminar - 757-425-5200.