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Family Law

The leading authority on all aspects of family law

25 AUG 2009

Recession affecting number of divorces in the UK

A recent poll of divorce solicitors shows that the recession has created a "divorce settlement bubble" with 48 per cent of divorce solicitors seeing a delay in reaching a divorce settlement as their clients hold off reaching a financial settlement until the economy recovers.

According to the research conducted by Unbiased.co.uk, the professional advice website, seventy two per cent of solicitors believe that the economic downturn has been influencing their clients' attitudes towards their divorce with the main trend being delaying reaching a settlement.

Forty eight per cent of solicitors say that their divorce clients are keen to delay reaching a financial settlement until the economy recovers and the value of their assets increases while one in ten solicitors say their clients are delaying their settlement in case the economy gets worse and their assets are worth even less.

The trend of delaying until the economy recovers is also evident in the length of time it is currently taking to reach a settlement as forty two per cent of solicitors state that the time taken to reach a divorce settlement has increased in the past year.

Half of solicitors believe that recent market conditions have led to fewer divorce clients approaching them over the past year which could suggest that some people may even delay seeking legal advice in the first place on their divorce and separation matters.

Unbiased.co.uk polled 50 divorce solicitors listed on their website.

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