‘Til debt do us part

MEDIA RELEASE 12 September 2006

‘Til debt do us part

We never think about relationships ending, until it happens to us. For most couples, a break up will have long-term financial implications. The September issue of Consumer explores the financial pitfalls of the dissolution of marriages and de-facto relationships.

The Property Relationships Act 1976 sets the rules for the division of property when couples break up. While it’s designed to be fair, its effect on individuals and families can be far reaching, leaving one or both former partners struggling to get a financial foothold for years afterwards.

“We asked our readers for their opinions on this, and time and again we got the same feedback – ‘the couple should work it out between themselves.’” says David Russell of Consumers’ Institute. “In a financially draining situation like property division, a drawn-out legal battle is just one more bill to be paid.”

“No-one plans to be in a break-up, but everyone should be prepared and informed of their options and rights, just in case” says Russell. “It’s better than finding out the hard way.”

A full copy of the article is available from: www.consumer.org.nz

ENDS

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