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.
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.