Divorce can be an emotionally difficult experience. Divorce attorneys and therapists agree that women and men who experience divorce, whether they consent or not, suffer with bouts of depression. The same applies to the financial situation. Of the 1.5 million people who filed bankruptcy in 2010, 8% of them indicated that divorce was the cause. Although this is not a high percentage, divorce can negatively alter the family’s finances.
I can attest to this experience. My husband and I divorced almost 10 years ago, and the journey back to financial stability has been a difficult road. I have experienced, job loss, repossession, homelessness, and needed government assistance at times to survive.