2m Brits left with debts after a break-up

Published by Tom Wilson on 14 August 2015.
Last updated on 14 August 2015

2m Brits lefts with debts after a break-up

Two million people have been left with the debts racked up by an ex-partner, according to a new survey.
On average, people were left credit card debts of £457, £313 in joint-account fees and £327 on shared online shopping accounts, according to the research from comparison site uSwitch.com.
Four in 10 affected people said it took them more than half a year to clear the balance, but 11% said it took them more than five years.
The report also found 68% of people who shared an account with an ex-partner didn't close the account within five years of breaking up. A third of people also said they didn't change their pin number after separating.
Half the people who have shared accounts with ex-partners said it's affected their own finances, and three in 10 claimed it had negatively impacted their credit score.
Nicolas Frankcom, money expert at uSwitch.com, said: "When it comes to finances, only fools rush in. Money might not be the sexiest pillow talk, but not addressing it can lead to financial, as well as emotional, heartache further down the line.
"Being left with debts that last longer than the relationship only rubs salt in the wound after a breakup.
"The reality is that couples can remain financially linked by their credit report long after a relationship breaks down and an account has been cancelled."
The website advises people to close any accounts previously shared with an ex and check with the three main credit agencies to check they're not still linked financially.

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