Divorce doesn’t just end a relationship. It often leaves a financial mess behind too.
We hear it all the time: “I thought splitting up would bring me peace, but now I’ve got double the bills and none of the income.”
It’s common for people in their 40s and 50s to face debt after divorce. Between legal costs, child maintenance, and the expense of running a household alone, it’s easy to see how even professionals end up with tens of thousands in debt.
Why divorce and debt go hand in hand
From our experience, the triggers are clear:
- Two homes, not one – rent or mortgage, utilities, and household costs all double.
- Legal fees – solicitor bills can run into thousands.
- Child maintenance – often a long-term financial commitment.
- Emotional spending – it’s common to overspend during stressful transitions.
According to StepChange, 1 in 4 people who contact them cite relationship breakdown as a cause of debt.
Taking back control
Here’s how we help people after divorce:
- Review the new budget – Income may be lower, but bills are higher. We’ll help you see what’s affordable.
- Consolidate payments – Through a DMP, we can roll unsecured debts into one monthly payment.
- Consider formal solutions – If debts are large (£20k–£40k+), an IVA may be more effective. We package and refer these to our Insolvency Practitioner partners if right for you.
- Protect essentials – Your home, food, and children’s needs come before creditors.
The FCA bit (what you need to know)
It’s important to be clear:
- A DMP and IVA can affect your credit file
- An IVA is legally binding, but if it fails, bankruptcy may follow.
- Fees apply to some solutions we’ll explain these in plain English before you decide.
- Free debt advice is also available from charities like StepChange and National Debtline.
Our role is to give you the facts, explain the risks, and help you make the right choice for your situation.
Moving forward without judgement
Debt after divorce is not a failure, it’s a reality for thousands of professionals every year. The important thing is acting early so things don’t spiral further.
