How to deal with financial struggles during divorce
As the divorce process moves forward, it is not uncommon for one spouse to face a variety of financial difficulties. In this case, the financially dependent spouse is concerned about getting a “fair shake” during the divorce process.
There is no denying the fact that divorce can be expensive. A person who does not have a lot of money could find him- or herself struggling to obtain the necessary assistance, as lawyer retainer fees and miscellaneous costs can begin to add up over time.
Some people have come to realize the benefits of lending firms that deal solely with people going through divorce. This gives the financially disadvantaged spouse access to the money they need to fight for what is theirs.
For example, New York-based BBL Churchill has the ability to lend money to borrowers in 27 states, including Texas. Borrowers are able to use the money, typically $60,000 or more, to get the best settlement possible. Best yet, instead of making monthly payments, the person is able to repay the loan and interest once a settlement is received.
From houses to vehicles to business interests, there is nothing simple about a high asset divorce. When millions of dollars in assets are involved in a divorce, both sides are likely to fight tooth and nail for what they believe they should receive.
It is important for a financially dependent spouse to realize that he or she does not have to get the bad end of a spilt just because their former partner has more money. Options, such as taking out a loan, exist.
Source: The Houston Chronicle, “Lending firms there for when the knot comes untied,” Andrea Rumbaugh, July 15, 2015