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January divorce season is upon us

January divorce season is upon us

The January divorce season is upon us. Generally speaking the divorce rate in January sees a jump as couples succumb to the multiple pressures of Christmas, mortgage arrears and credit card bills. As well as possibly spending too much time together!

We all know money problems can have an adverse effect on relationships. Of 2,742 people polled by Relate, 59% were worried about their economic prospects for the new year. Don’t be a statistic, take control act early and sort your finances. Speaking to a professional Insolvency Practitioner can ease the stresses surrounding your finances, and put things in perspective.

If the amount you owe in credit card bills, mortgage and other amenities is more than you can afford, and you have robbed Peter to pay Paul once too many times recently – you need to take a serious look at your income and expenditure.

You can speak to an adviser who will help you draw up a budget based on your income and outgoings advising you on the most appropriate debt solution. They may auggest an individual voluntary agreement (IVA), a government legal binding repayment plan arranged by an insolvency practitioner.

Wilson Field employs a number of insolvency practitioners. Under an IVA, we contact your creditors on your behalf, negotiating a “payment plan” with them and repayments you can afford. This plan does exactly what it says on the tin – an individual arrangement – tailored to address the situation.

The good news is; “ONS (Official for National Statistics) figures show 117,558 divorces in 2011 compared with 119,589 in 2010. It also follows a general decline since 2003.” (Reported in the Guardian Newspaper in December).

Author: Helen Fenney

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