As the Economy Rises, So Does the Divorce Rate

In May 2010 we wrote about how the great recession had caused couples to put their divorces on hold due to the loss of employment and decreases in the value of their assets. Federal figures suggest the divorce rate fell about 7% between 2006 and 2009.

National Public Radio now reports that with the improving economy the divorce rate is once again on the rise.

Because banks are now more willing to lend money, divorcing people can now borrow money more easily to buy out their spouse’s interest in a home or family business. The stock market has also recovered, causing divorcing couples to feel more secure in their financial ability to separate. Finally, couples that put their divorces on hold during the depth of the recession a created pent-up demand for divorce, and many of those couples are no longer willing to wait to get divorced.

Cooley & Handy, in accord with the article, has experienced a recent spike in new clients seeking divorce in Bucks County and Montgomery County Pennsylvania.

© 2010 Cooley & Handy