There’s a new type of lender on the financial scene. Instead of mortgages, car loans, or payday loans, these lenders finance divorces. They claim to help with everything from living expenses to attorney’s fees to the costs associated with “expert” witnesses. In return – you guessed it – the lender then grabs a slice right off the top of your divorce settlement or court award. Borrowing money that your ex-spouse has to repay has a certain appeal for some, but taking out a divorce loan probably isn’t a good idea – or even necessary – for most people involved in divorce proceedings. Before you take a divorce loan in south Florida – and before you take any other action regarding a divorce – arrange to speak first with an experienced Boca Raton divorce attorney.
Divorce financing may be a great option for a very few, when substantial assets are at stake and the testimony of financial experts may be required. But if your divorce is uncontested, or if you haven’t compiled substantial property and assets, you probably don’t even need to consider a divorce loan. You certainly want to talk to your attorney first. In most cases, you should be able to find another way to finance your divorce and cover your expenses while it’s pending.
It’s true that complex divorces can be expensive. But if you can settle most of your differences out of court, and if you and your spouse aren’t on some magazine’s list of billionaires, it’s very likely that you and your attorney can find a way to cover your divorce without involving a divorce lender. If you must take a divorce loan, make sure that the company you work with fully discloses the terms of the loan and that you thoroughly understand what you are signing. For help with a divorce or any family law matter in the south Florida area, contact an experienced Boca Raton divorce attorney for legal advice and representation as quickly as possible.
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