Many people who are going through a divorce are up against a spouse who has considerably more assets than they have and is ready to play hardball. In some cases, a spouse has hidden assets, has cleaned out bank accounts and has charged credit cards to the maximum amount. In some cases, assets may be frozen until things are resolved.
Are You Being Outspent in a Divorce?
These tactics can leave the spouse with less money or who was caught by surprise without the resources needed to fight for the assets that are rightfully theirs, not to mention custody and visitation of their children, at a considerable disadvantage. The other spouse can simply outspend them until they give up because they have no more money to fight.
High-asset divorces often require forensic accountants, financial and tax advisors, valuation and vocational experts and other professionals in addition to an experienced divorce attorney. Paying for all of this while still supporting yourself and your children can seem impossible without financial help. Financing a divorce can be particularly difficult for women who have given up a career to raise children and have no money of their own.
Divorce Financing Solutions/h2>
That's why some people are turning to independent divorce financing solutions to help them fight a spouse who can far outspend them. Companies such as New Chapter Capital provide funding for divorce expenses, and don't require repayment until and unless a settlement is reached.
New Chapter Capital's chief executive officer says that in her experience as an attorney she's seen cases where women "were often forced to take settlements for less than they were entitled to because they did not have the financial resources." She says that her company tries to provide "equality through equity."
Companies that finance divorces expect a return on their investment, of course. They anticipate that when people are able to assemble a team of experienced professionals, they will be able to reach a favorable settlement.
If you're divorcing someone who has a significant financial advantage, it may be worth looking into financing options to help ensure that you are able to put up a fair fight to get what is rightfully yours. Your family law attorney can likely recommend some resources to help you with this. He or she can also work to help you access marital assets that are yours.
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