Debt.com » Research » Debt.com Survey Finds Credit Card Debt and Spending Were Big Factors in Divorce
Advertiser Disclosure
Debt.com strives to provide our users with helpful information while remaining unbiased and truthful. We hold our sponsors and partners to the highest industry standards. Once vetted, those sponsors may compensate us for clicks and transactions that occur from a link within this page.
This Free Download is the Only Guide to Getting Out of DebtYou’ll Ever Need
Just give us your email and we’ll send you the guide now!
Thank you for requesting the guide. Please check your inbox!
By submitting this form you will also be subscribed to our newsletter to get the latest articles, financial tips, tools, giveaways and advice delivered right to your inbox. Privacy Policy
Debt.com Survey Finds Credit Card Debt and Spending Were Big Factors in Divorce
Nearly a third of respondents said credit card debt contributed to their divorce.
Debt.com surveyed more than 500 divorcees about how their relationships impacted their finances. We found that credit card debt and financial disagreements were major factors in getting divorced.
One-third said that credit card debt was a deciding factor, while roughly 4 in 10 pointed to disagreements on major purchases.
“No divorce is simple, and there’s rarely a single cause,” says Debt.com president Don Silvestri. “Yet it’s quite apparent from these results that a sour economy has also soured some marriages. While it’s impossible to attribute divorce specifically to inflation and other economic factors, it’s clear they’re being cited more often as primary causes.”
Trouble came after the divorce too.
Forty-one percent of respondents told Debt.com that they took on more than $5,000 after their divorce. Twelve percent gained between $15,000 and $20,000 in debt.
Because divorce is expensive, many respondents considered avoiding it altogether.
36 percent of divorcees said they or their spouse hid their debt
29 percent said they considered separation rather than divorce to avoid debt
Here are some of the biggest takeaways from the survey:
6 in 10 said they incurred debt after their divorce.
Forty percent of respondents gained between $5,000 and $10,000 in debt.
More than a third of divorcees said they or their spouse hid their debt.
“Disagreements on big purchases” were a major factor in divorce.
More than 4 in 10 said they took on a debt they previously shared with their partner.
For many survey respondents, their debts reached more than $5,000 – and their credit scores dropped by more than 50 points.
Debt.com and DivorceMag.com partnered to ask Americans how divorce impacts their finances. After surveying more than 500 divorcees, we’ve determined that debt and financial disagreements can certainly lead to unhappiness in marriage – but it’s not why most break their vows.
One-third of divorced couples say financial problems were not a contributing factor to their split. However, nearly two-thirds reported they took on debt after their divorce was finalized.
More than half of survey respondents said their debts reached more than $5,000. And nearly 15 percent said their debts amassed over $25,000.
Taking on more debt meant taking a hit to their credit score. More than 4 in 10 said their divorce sunk their credit by at least 50 points.
Decreased 50 points or less: 13%
Decreased more than 50 points: 32%
Increased 50 points or less: 4%
Increased more than 50 points: 6%
“It doesn’t matter how much you earn, couples will fight about money. It doesn’t matter how much you have, divorce will cost you money,” says Debt.com president Don Silvestri. “We already knew this from our seven years of helping Americans get out of debt. But those high numbers were a little surprising – and depressing.”
Most respondents said financial difficulties did not contribute to their divorce
2 in 3 said they took on debt following their divorce
Divorce caused more than half of respondents to take on over $5,000 worth of debt
3 in 10 said their credit score dropped by more than 50 points as a result of their divorce
4 in 10 shared a debt with their former spouse that’s now theirs alone
Were debt or other financial difficulties the primary factors in your divorce?
Percentage of respondents
Strongly agree
12.28%
Agree
20.86%
Neither agree nor disagree
14.62%
Disagree
24.95%
Strongly disagree
27.29%
Did any financial problems during the pandemic contribute to your divorce?
Percentage of respondents
Strongly agree
3.70%
Agree
10.33%
Neither agree nor disagree
10.92%
Disagree
23.00%
Strongly disagree
52.05%
Did you take on debt following your divorce?
Percentage of respondents
Yes
62.96%
No
37.04%
How much additional debt did you incur as a result of your divorce?
Percentage of respondents
Less than $1,000
29.24%
$1,000-$5,000
17.35%
$5,001-$10,000
15.79%
$10,001-$15,000 point drop
12.09%
$15,001-$20,000
7.02%
$20,001-$25,000
4.09%
More than $25,000
14.42%
Did you and your spouse share a debt that is now your responsibility?
Percentage of respondents
Yes
40.94%
No
59.06%
How much did your credit score change as a result of your divorce?
Percentage of respondents
Decreased 50 points or less
12.87%
Decreased more than 50 points
31.77%
Increased 50 points or less
3.90%
Increased more than 50 points
5.65%
My credit score was unaffected by my divorce
19.69%
I don’t know
26.12%
Did you consider separation instead of divorce as a way to avoid incurring debt?
Percentage of respondents
Yes
20.47%
No
79.53%
Household Income
Percentage of respondents
$0-$9,999
6.29%
$10,000-$24,999 point drop
10.02%
$25,000-$49,999 point drop
22.24%
$50,000-$74,999
22.24%
$50,000-$74,999
18.65%
$75,000-$99,999
13.24%
$100,000-$124,999
7.61%
$125,000-$149,999
4.46%
$150,000-$174,999
2.12%
$175,000-$199,999
1.39%
$200,000+
4.02%
Prefer not to answer
9.95%
Methodology: Debt.com and DivorceMag.com surveyed more than 500 divorced Americans and asked nine questions related to how divorce impacted their finances. People responded from all 50 states and Washington, DC and were aged 18 and above. Responses were collected through SurveyMonkey. The survey was conducted from Jan. 28, 2022 to March 30, 2022. Percentages were rounded up to the nearest whole number and might not total 100 percent.
Most survey respondents told us that debt and financial difficulties were not a factor in their divorce.
Response
Percentage of Respondents
Strongly Disagree
26.01%
Somewhat Disagree
12.12%
Disagree
22.98%
Somewhat Agree
24.24%
Agree
6.44%
Strongly Agree
8.21%
All respondents to our survey told us they took on debt following their divorce – and the majority (40%) said it was more than $5,000.
Response
Percentage of Respondents
More than $5,000
39.90%
Less than $1,000
29.42%
Between $1,000 and $5,000
30.68%
When asked if they took on sole responsibility for a shared debt following divorce, respondents were near-split. Most respondents (57%) didn’t – but close to half (43%) did.
Response
Percentage of Respondents
No
56.57%
Yes
43.43%
Most respondents (38%) said their credit score dropped more than 50 points.
Response
Percentage of Respondents
Decreased more than 50 points
37.75%
I don’t know
29.67%
My credit score was unaffected by my divorce
16.54%
Decreased 50 points or less
10.35%
Increased more than 50 points
4.04%
Increased 50 points or less
1.64%
Most divorced respondents told us they “never considered separation” rather than filing for divorce.
Response
Percentage of Respondents
No
88.01%
Yes
11.99%
Methodology: Debt.com and Moneywise.com surveyed 2,700 Americans through online platform SurveyMonkey between Nov. 1, 2019 and Dec. 29, 2019 – but only sourced data from about 800 Americans who have been through a divorce. Moneywise.com is a personal finance website affiliated with Wise Publishing headquartered in Toronto Canada.
Methodology: Debt.com surveyed 526 adults and asked 11 questions about their divorce. People responded from all 50 states and Washington, DC, and were aged 18 and above. Responses were collected through SurveyMonkey. The survey was conducted on January 31, 2023.
All website interactions and phone calls are recorded for compliance and quality assurance purposes. We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisement. You may refuse to accept browser cookies by activating the appropriate setting on your browser. However, if you select this setting you may be unable to access certain parts of our Website. Unless you have adjusted your browser setting so that it will refuse cookies, and by continuing to use our website, you agree that our system will issue cookies when you direct your browser to our Website.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.