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Low credit score and divorce; Study compares credit, trust

There are many elements that come into play when considering a life partner. One unexpected factor in lifelong happiness and the possibility of a future divorce is the credit scores of the spouses. Several recent studies, including one undertaken at the University of Texas, take a look at the impacts of credit scores on marriage and divorce. 

A recent study of 1,000 people by a consumer financial services company shed some light on whether credit scores factor into a person's choice to even date a person. Forty-two percent of the people surveyed reported that knowing a person's credit score in advance would affect their choice to go on a date with a love interest. A 2015 study supports what they already think. People with lower credit scores have a higher rate of divorce, as observed by researchers at the Federal Reserve Board. 

The federal study of 12 million customers confirmed that for every 105 point increase in a person's credit score, there is a 32 percent less likely chance of them divorcing. A higher credit score can also indicate how trustworthy a person may be. A study performed at the University of Texas said that people with higher credit scores are more likely to return money, indicating higher levels of general trustworthiness. 

For people in Texas, the question of divorce may be looming in their heads. Perhaps they did not closely examine their partner's credit score, their levels of trustworthiness or a number of other compatibility issues prior to marriage and now are considering their options for divorce. A lawyer can be a great resource for a person navigating the process of divorce. 

Source: New York Post, "This number could predict your chances of getting divorced", Catey Hill, May 10, 2017

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