Kennedy Law Associates

Divorce plays a role for couples with student loan debts

In Charlotte, a marital dispute over money may cause an outburst of negative emotions for any married couple. A recent study conducted by Student Loan Hero discovered that 33 percent of people contemplating divorce believed lack of money was the main culprit. One out of eight students who participated in the study blamed their student loan debts for the divorce proceedings. The problem with student loans is that they equal large amounts of money. With the average student loan exceeding $34,000, it is no wonder that divorce is a natural outcome.

The amount of a typical student loan has tripled during the past 10 years. Many students incur $50,000 debts by the time they graduate from college. While some students may find promising jobs right after they graduate, others are left without employment opportunities. Plus, these students are in heavy debt. Students who wish to marry may not know where to turn. Owing money without having any way to pay back a loan can cause stress levels to reach their limits.

Divorce often stems from the battle to overcome a big debt. Before embarking on a life filled with marital bliss, a couple with common sense may want to create a budget. Speaking with a financial advisor may provide insight into a difficult state of affairs. Debt makes it impossible to find the money for a down payment on a home. In addition, weddings are becoming more expensive.

People thinking about getting married may want to have lengthy, realistic discussions about their student loan debts prior to saying their vows. A couple planning to get divorced may wish to set up an appointment with a family law attorney before they file legal documents. Discussing their predicament with a divorce lawyer might help to address any issues during legal proceedings.

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Are quality legal services available in your Charlotte neighborhood? Yes, our offices are located in Ballantyne, so you do not need to fight traffic driving uptown or deal with the inconvenience of paid parking decks. We are just minutes from the Ballantyne Corporate Park right off of I-485. An initial domestic consultation with Kennedy Law Associates is a positive step toward creating a roadmap to a better future.

14835 Ballantyne Village Way, Suite 225
Charlotte, NC 28277

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