What being in debt means on Divorce Day

The first working Monday of January (5 January 2026) is commonly known as Divorce Day. The busiest day of the year for family solicitors.

For many couples, Christmas is the breaking point. Too much time together. Old arguments resurfacing. And money worries bubbling over.

But while headlines focus on who’s splitting up, there’s another side to Divorce Day that doesn’t get talked about enough: the people who want to separate but can’t afford to.

When money keeps you stuck

For a lot of couples, the problem isn’t love anymore. It’s money. Rising rents, higher mortgage payments, creeping credit card debt, energy bills that never seem to come down - all of it adds up.

When you rely on two incomes to survive, the idea of going it alone can feel terrifying. Many people tell us they stay because they don’t see how they’d cope financially on their own, even when the relationship is no longer working. That feeling of being trapped is more common than you might think, especially right now.

The fear of debt after a breakup

One of the biggest worries is about debt. People panic about what happens to credit cards, loans and overdrafts if they split. Some assume everything will be divided neatly down the middle. Others fear they’ll be left with the lot. The reality is often less clear-cut - and that uncertainty is what keeps people stuck.

Staying together isn’t always cheaper

On the surface, staying put can feel like the safest option. Two incomes. Shared bills. Fewer changes.

But a deteriorating relationship can have a knock-on effect on your finances. Breakdowns in communication about money may lead to missed payments and growing balances, as well as more pressure on your mental health. Many people delay getting help because they feel ashamed or think nothing can change, only to find their debts grow larger the longer they wait.

Practical steps to manage joint debts

If you want to separate but are worried about debt, there are ways to protect yourself so that you can start planning for a happier future.

Who pays the price?

First, know who owes what. Loans or credit cards in your name are your responsibility, even if both of you used them. Joint debts remain joint, so both parties are legally responsible even after a split. That means creditors can still chase either of you for the full amount, regardless of who caused the breakup.

Options for dealing with debt

If you have debts that you can’t afford to pay following a break-up, it’s important that you don’t just ignore them and hope they’ll go away.

Get debt advice to find out what your options are. You may be surprised at just how much help is available. Depending on your circumstances, you may be:

• able to speak to your creditors directly and move accounts into one person’s name, temporarily freeze interest or fees, or agree reduced monthly payments
• eligible for a debt solution, like a debt management plan, a debt relief order or an individual voluntary arrangement – a debt adviser can explain how these may be able to help and how they’ll affect your credit score

If you’re worried about joint accounts being used without your consent, consider setting up individual bank accounts, agree spending boundaries and avoid taking on further joint debt.

You don’t have to decide everything today

Divorce Day can make it feel like you need to act fast. You don’t. You don’t have to end a relationship today, and you don’t have to stay forever just because money is tight right now.

Getting a clear picture of your finances, such as what you owe, whose name it’s in and what support is available, can open doors you didn’t realise were there. And getting advice from someone like us can help you understand your options, whether you end up staying together or going your separate ways.