Such is the assertion of Callcredit which report that although February 14th may be a special time for couples, those who have broken up at this time of year may find that they are not only suffering from a broken heart but also monetary strains. It was suggested that although the relationship has ended, people may still find themselves financially linked to their ex-partners.



This could have particularly grave consequences for consumers if they find that their former half had problems in managing money during the time the couple were connected in a fiscal sense, whether this be through a joint loan, current account or mortgage. Meanwhile, research from the firm indicated that following a separation or divorce, women are more likely than men to develop problems in paying back bills and borrowing demands.

Those looking to get back on to a secure financial ground after breaking up with a loved one, however, may wish to consider getting a cheap UK loan.

Owen Roberts, head of Callcredit Consumer, said: "Money is the number one relationship breaker, so unless you start off on the right foot, unpleasant financial situations can easily arise. Being financially linked to an ex-partner can be a traumatic experience. It is therefore of utmost importance for both people in the relationship to be financially savvy from day one. Unless you want to end up being liable for your ex-partner's debts, separating yourself financially by putting a notice of disassociation on your credit file for example, is essential and straightforward. If you fail to do this, whatever your ex-partner does can worryingly affect your credit file for the next six years."

However after splitting up, the firm advised Britons to take steps in unlinking themselves from their ex in a monetary sense. First of all it was claimed that people should contact money lenders as soon as possible to inform them that they are out of a relationship. After doing so both people in a broken down relationship should take out separate financial products and agree to divide money held in any joint accounts. Meanwhile, those who have an account in their own name where a partner is an additional cardholder or signatory were urged to make sure they get back all cheque books and credit cards, otherwise they may be responsible for their former spouses' spending. It was claimed that if consumers fail to take such steps then they may find that their former partner can affect their credit file for the next six years.

For those who have established their financial independence but are concerned about how they will supplement their spending following a break-up, taking out a cheap low-rate loan could be advisable. In doing so it is possible that borrowers can meet a number of demands on their money management at once. Earlier this year, Callcredit advised those looking to get a personal loan to first take out a copy of their credit history as it is an "essential tool" in managing money and can help to secure access to a cheap loan. Pointing to research by the Motley Fool, it was claimed that 500,000 Britons will take out a UK loan in January in a bid to help get to grips with finances.