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LegalZoom.com Has Traditionally Experienced an Increase in Divorce Orders the Weeks Following V–Day, and Expects the Trend to Continue Despite Economy
(Los Angeles, CA – January 27, 2009) – Cupid's arrow might be doing more harm than good. Even though the present state of the economy has forced many unhappy couples to either put off a divorce or reconcile their differences, LegalZoom.com predicts a jump in the number of couples finally calling it quits in the weeks immediately following Valentine's Day.
LegalZoom.com is the nation's leading online legal document service, offering a convenient and cost–effective way for consumers to take care of common legal needs, including uncontested divorces.
The end of 2008 saw a rough economic landscape. While couples might have been having an equally rocky time in their marriage, it was simply much too costly to get divorced and then have to live separately. In fact, LegalZoom experienced a 15% decline in divorce orders in the final quarter of 2008 (compared to the same period in 2007).
Despite the financial benefits of staying married, LegalZoom expects the spike in divorce filings to prevail over a couple's desire to wait it out. LegalZoom has traditionally experienced a 15% to 29% spike in divorce orders in the five weeks following Valentine's Day (compared to the five weeks prior).
"It's ironic. Money issues are typically the number one reason people seek a divorce in the first place," said Brian Liu, co–founder and chairman of LegalZoom.com. "But over the past few months, the bad economy combined with dropping home values has brought couples closer together with the realization that they need each other for economic support. Unfortunately, there often comes a point when unhappy couples have simply had enough—as in past years, we think Valentine's Day will be that breaking point."