San Francisco, CA | February 11, 2014
In a new survey that looks at how married and divorced people deal with and credit and debt, Credit.com found that almost half – 51% – of currently married couples reported their credit scores to be about the same as their partners, while only 26% of divorced couples said the same when referring to their scores during the time they were married. Beyond that, 81% of married survey respondents who said they had similar credit scores to their spouse reported they were very satisfied (52%) or somewhat satisfied (29%) with how they were managing their credit and finances. They also tended to manage their credit and debt cooperatively with their spouse (61%) vs. divorced people when they were married (34%).
More important takeaways from the 2014 Marriage, Divorce & Credit Survey:
Respondents are fairly evenly split on whether their credit scores improve or get worse after divorce.
For divorced individuals, credit and debt usage grew during marriage (comparing prior-to-marriage vs. post-divorce debt levels).
It can take a long time to separate finances after a divorce.
Many regret not talking about credit and finances before marriage.
About the Survey
Credit.com’s Marriage, Divorce & Credit Survey was based on data collected from 1,061 U.S. consumers, aged 18+, using SurveyMonkey Audience, over the period Jan. 31 – Feb. 2, 2014. Information on how respondents were recruited can be found here.
To learn more about Credit.com’s Marriage, Divorce & Credit Survey, or other issues related to credit, debt and personal finance in general, please contact Michael Schreiber at michael(at)credit(dot)com.
*The Marriage, Divorce & Credit Survey was conducted among 1,061 adults online Jan 31 – Feb. 2 on behalf of Credit.com.