Money issues are one of the biggest factors in marital problems and one of the most frequent contributing factors to the decision to divorce. Various studies have been carried out on these matters. Statistics that have emerged include 35% of couples blaming their relationship stress on money problems and 54% of spouses saying a spouse being in debt is a major reason to divorce them.
So, it stands to reason that finding a way to remove that debt could be good for the relationship and potentially stave off a divorce. Here are a few of the reasons this could be true.
You sleep better and worry less
Debt, especially the sort you can no longer keep up with, can cause a person stress. That can lead to them not sleeping well, being constantly on edge and being less able to be fully present and kind toward their partner and others. Now imagine both spouses are feeling the strain of the debt and you can see neither is in the best place to have a loving and understanding relationship.
Removes the blame and guilt
Someone spent that money you owe. Someone chose to buy a particular thing or take out a particular loan. Even when the spending was forced on you by a medical emergency or job loss, it can lead to one spouse feeling the other person is to blame for the debt. If only they had sucked up to the boss a little more they would still have a job and income. If only they had watched our son more carefully he would not have fallen out of the tree and needed expensive medical treatment.
Such thinking can lead to resentment on the part of both spouses. It can also lead to them hiding future spending from the other. Both things can reduce the trust and compassion in a marriage.
Using bankruptcy to get back on track financially may help you get your marriage back on track, too. It can remove the financial issues that were causing you stress and discontent and allow you to start over on a positive footing.