Data released by leading legal provider, Co-op Legal Services has revealed that due to financial reasons, many are now considering waiting until later in the year to start divorce proceedings, with nearly a quarter of people (21%) admitting to delaying divorce proceedings due to the impact it would have on their finances.
However, nearly two-thirds (63%) of people who delayed their divorce due to monetary reasons wish they hadn’t due to the impact it had on their life and those around them.
Two-fifths (41%) of people who delayed their divorce due to monetary reasons say that their finances were the most impacted by the delay of divorce, followed by their relationship with their children (24%) and relationship with their family (13%). Men were more likely to feel the relationship impact with their children, with 30% experiencing it as opposed to only 21% of women.
Of those that had been divorced nearly two-thirds (60%) believed the divorce process, including the associated financial settlement, would cost £2887, however, it actually cost them on average £5511. Across the UK, the research revealed the most expensive place to get a divorce is Scotland, with the average divorce costing £6554 and the Northeast being the cheapest at £2965.
Ben Evans, Lead Family Law Solicitor at Co-op Legal Services, said “It is common in the industry to see a surge in divorce enquiries in January, which usually is a result of couples not wanting to disrupt the family home during the festive period.
“Our business data predicts that divorce day has now moved back from January to the springtime with more couples now waiting until then to start the divorce process, also coinciding with the new financial year.
“This suggests the impact the cost of living crisis has had on those wanting to divorce their spouse over recent years, with many potentially having not been in the position financially to start divorce proceedings. However, our research results reveal the negative impact delaying a divorce can have on families and careers and we would advise anyone in this position to reach out for advice, especially when coupled with the average divorce case exceeding one year.”