There are numerous types of marital issues, but financial disputes are one of the leading causes of divorce. At the heart of many financial disagreements between spouses is secrecy.
When one spouse hides debts, this can result in mistrust, which harms the foundation of the relationship. Below are some important points that warrant further consideration.
Being secretive about money
If your spouse is suddenly secretive about money, this may be a bad sign. For instance, they might refuse to share account statements, change online banking passwords or insist on handling finances alone. Avoiding discussions about bills or expenses could indicate that they are hiding substantial debts from you.
Unusual spending patterns
If your spouse’s spending habits suddenly change, this could also be a cause for concern. Are they spending more than usual? Have they taken out a loan or new credit card without a reasonable explanation? This could be a sign that they are struggling with debt and are potentially digging a deeper hole financially.
Reluctance to apply for joint credit
Married couples often rely on joint credit for major purchases. For example, a joint mortgage may be needed to acquire a new family home. If they refuse to engage in this, they may be worried about being rejected. This could be a sign that they either owe a significant sum of money to creditors or have a poor credit rating due to financial difficulties.
If you’re considering divorce amid concerning actions like those addressed her, protecting your financial well-being should be a high priority. Having experienced legal guidance can help you protect your interests.