Debt fears lead to more asset fights

Debt problems caused by the recession are forcing more couples to fight over assets when they get divorced, according to new research.

The figures, from legal information providers Maxwell & Sweet, found that 28 per cent of financial settlements in 2008 were contested, compared to just 24 per cent in 2006.

They also indicate that fear of needing debt help due to public sector job cuts and the government’s austerity policies will lead to more asset fights in the future.

The stats reveal that the rise in contested settlements is largely restricted to couples with no children, with the legal firm suggesting that parents are more reluctant to fight over money which may end up benefitting their offspring.
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Kevin Still, director of Atlantic Financial Management, says: "Divorce or separation from a long-term relationship even without children involved can be very traumatic.

"Financial problems can often be both a cause and a subsequent symptom. Further debt problems may arise when splitting assets and having to cope on a single income."

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