Relationship problems due to financial often stem from a lack of financial transparency and communication. It is not uncommon for one person to have complete control over the couple’s finances. Clinical psychologist Maryna Johnson says, “Nowadays, with both partners working and earning, it often happens that they run their finances so separately that neither has any knowledge of threats to the other partner’s financial well-being.”
Debt is very often the unwelcome intruder in the relationship. By the time the partner with mounting debt finally reveals the situation he or she is in, it’s usually gotten completely out of control. The other partner will likely feel betrayed and angry. If the debt is so significant that the problem cannot be solved on their own, the couple may have to look at alternative options. However, before even getting to that point, the emotional toll of betrayal, dishonesty and financial stress may put the entire relationship in jeopardy. It is possible that the couple may have to seek emotional, financial and legal help to get back on track.
Secret debt can destroy a relationship. If you are in a situation where you have decided to reveal secret, mounting debt to your partner, or your partner has just revealed a similar situation to you, it is important to weigh your options carefully. For starters, address the well-being of your relationship. Marital or couples counseling may help alleviate some of the suffering caused by relationship problems due to finances. As soon as you can, however, it is essential to address your financial health as well. If the debt is beyond anything you can figure out on your own, you may need to look at alternative options, such as bankruptcy. Make sure to hire experienced legal representation. A skilled attorney will analyze every detail and help you determine the best options for your unique situation.
Speak to the skilled and experienced bankruptcy lawyers at Garland & Mason, L.L.C.. We have been helping families, like yours, through the debt negotiation and bankruptcy process for many years. We will help you too. Contact us today.