Startling new about Divorce in the UK have proved that divorce levels in the UK has contributed to the national debt crisis, particularly within the M25 region of London, including Hendon, Moorgate and Woodford where many divorce lawyers and specialist family law solicitors are based.
The high divorce rate of recent in Britain is a main contributing reason for ever increasing levels of debt within the London M25 boundaries according to a new report claimed recently. The average cost of divorce in the UK now stands at a cool £13000. This does not take into account the divorce settlement, only costs relating to the divorce process and legal fees paid to divorce lawyers and family law solicitors.
A new report by Debt Free Direct claims that the breakdown of marriage is a large factor in the financial problems facing those within the London M25 motorway area. This suggests that many people are forced to take out debt consolidation loans following the completion of their divorce process. The costs may be higher in affluent areas of London such as Hendon, Westminster, Moorgate or Mayfair than in less wealthy areas such as Woodford, East London or Lewisham.
The debt advisory agency has reported that divorced people are 1/3 more likely to be declared bankrupt and that women are running the highest risk, they are 14 per cent more likely to face financial ruin and are 26 per cent less likely to qualify for an individual voluntary arrangement, a measure taken to prevent bankruptcy. Many of these options need to be discussed with a divorce lawyer and where children are involved, a family law solicitor as well.
Heavy debts that are incurred by an ex partner are a major cause of financial problems, even after a divorce. Findings show that excessive debts run up by a former partner are an underlying factor in almost three in ten bankruptcies in the United Kingdom, and often higher inside the London M25 zone.
The divorce rate in London is historically higher than elsewhere in the UK. Living within the London M25 boundary often means working in Central London and a faster paced, more stressful life with less quality time to invest in personal relationships. This puts extra strain on marriages and family life. Where children are involved and family communication has broken down, a specialist experienced London family law solicitor is also likely to get heavily involved and increase the cost of divorce on top of the divorce lawyer.
You can find a good divorce solicitor in the London M25 area by asking for recommendations from friends, advertising or through a Google Search. A good specialist divorce solicitor in Hendon would most likely have a shop front in the local area and be found on the first page of Google when searching with ‘Hendon’ included in the search bar. This makes getting to the first page on Google and online marketing harder for website promotion than in many other business fields. For this reason, many divorce lawyers attend business networking groups to advertise themselves through business recommendation clubs such as BNI and Smart Networking. Many good business networking groups are active in and around the M25 in London, you can find business networking groups in Epping, Ruislip, Pinner and Edgware amongst others.