Divorce rates are set to soar next month, as couples struggle under increasing financial pressure, according to the Local Government Association (LGA).
Councils across England predict that there will be a surge in the number of divorces at the beginning of 2009, as couples fail to deal with multiple pressures of the festive season – highlighted by rising unemployment, mortgage arrears and recession.
17% more couples were seeking relationship counselling from their local council, with mortgage arrears and other financial problems as the apparent cited reason.
Many councils have already seen an increase in the number of people seeking debt advice.
Of the 155 council Chief Executives who were questioned as part of the LGA’s research, 93% reported that there had been a rise in the demand for debt help and debt advice, as more people sought debt counselling.
Many couples are hoping that by seeking debt help they may receive suitable debt advice to deal with their financial problems, avoiding divorce.
The Debt Advice offered may include tackling financial problems with a Debt Management Plan (DMP) or an Individual Voluntary Arrangement (IVA).
Debt help, such as a Debt Management Plan (DMP), can help someone struggling financially by gathering debts into one affordable payment – which is easier to manage than multiple accounts.
Trained specialists should also be able to negotiate with creditors to reduce payments and freeze any further interest or charges from being applied.
Debt help of this type (a debt management plan), is flexible and beneficial to people who cannot maintain their current repayment levels – as payments can be altered according to a debtor’s circumstances. Debt management can also help people regain control of their finances.
Other debt advice offered may include debt help such as an Individual Voluntary Arrangement (IVA). An IVA is a useful solution for people with larger debts and can be an effective way to prevent bankruptcy.
For solutions like debt management and an IVA, it is always recommended to seek impartial debt advice. Hopefully this debt help will prevent many further divorces from occurring.
The increase in demand for relationship counselling is particularly pronounced in the capital, with a quarter of London boroughs having more couples seeking help.
