The emotional side of divorce can take its toll, but the financial process can in fact be one of the most stressful aspects of separation, and dividing up any debts from the marriage can be a problem.

With the launch of the ‘Debts After Divorce Campaign’ however, there has been a move towards a more amicable approach to sorting out the terms of a separation.

There are 160,000 divorces each year and these are not just emotionally stressful, says the Insolvency Helpline. Almost half (45%) of those surveyed by the group said breaking up has caused more financial problems than bereavement or redundancy. People who split up also use up their personal savings as well, with 36% becoming heavily in personal debt as a result.

30% of divorcees stated that they needed professional debt counselling, while 28% found it hard to adjust to having just one household income and 10% had difficulty sorting their debts and had to consider bankruptcy.

The research carried out by the UK Insolvency Helpline shows that the cost of divorce can leave couples heavily in debt and sometimes becoming an ex also brought out the need to spend money on themselves, with 15% saying they had utilised credit cards to purchase luxuries they wouldn't have bought if still married.

Only 8% of people said they had managed to control their finances and had come to an amicable agreement on finances, even though more than a quarter said they wished they had. Of the 78% who ended their marriages amicably, almost all said that their finances now needed a makeover.

Those who contacted the UK Insolvency Helpline had £15,000 to £25,000 in unsecured debts, while half of people had debts of £2,400 to £6,000 due to the costs of setting up a new home.

Many of the people interviewed had chosen to enter into an Individual Voluntary Arrangement (IVA) which is a softer alternative to bankruptcy and can massively reduce debt levels.

When it came to practical advice, more than half of the 320 people questioned said they had turned to The UK Insolvency Helpline for financial guidance after speaking to their solicitors.

Statistics - What causes debt?

• Divorce and separation - 52%
• Bereavement - 18%
• Ill Health - 15%
• Loss of work - 10%
• Disability - 5%