Thursday 20 April 2017

Tips For Getting The Divorce Financing You Need Today

By Barbara Brown


The county and state may not charge very much when issuing you a marriage license. However, the court system and lawyers do not return the favor when you want to end your marriage. Filing the paperwork, having a mediator separate your bills and assets, and settling the case in general can cost thousands of dollars, money that you may not have in your bank account. When you need some type of divorce financing, you may wonder what your options are and how you can take advantage of them.

If you have the availability on your credit cards, you may use them to pay your retainer fee and court filing expenses. Your attorney could put the charges on your cards, which would allow you to pay them off gradually or ask for them to be paid off by your spouse if you are asking for court costs. Most law firms accept credit cards as a form of payment.

You could also apply for a bank loan to get divorced from your spouse. Getting a bank loan requires that you have relatively good credit, however. People who do not have high enough credit scores might be turned down for such loans. They may have to consider other options.

You then may consider what kinds of assets you have at your disposal. Do you have a car that has a clear title, for example? If so, you may think about selling it to raise cash to hire an attorney and file the case. You may get a couple hundred or even a couple thousand dollars out of selling a valuable asset like a car.

Similarly, you might take out a line of equity that is based on the value in your house. Many banks will give home equity loans even if the owners do not have the best of credit ratings. The loan is secured the equity in the house. If you default, the lender could recoup the loss by foreclosing on the house. This type of lien typically is paid out quickly, letting you move forward with your marital dissolution promptly.

People who rent their homes and have no valuable assets are not stuck when it comes to getting financed. If you are in this situation, you may consider asking the law firm to let you make payments on what you owe. You can pay the lawyer little by little each month until the costs are settled.

Your tax refund may also come into play in a payment arrangement, however. Many lawyers will have you sign a paper agreeing to the refund being seized by the attorney or firm to take care of your costs. Whatever money is left over after the account is settled will be dispersed back to you. This option could work if you get a hefty refund and want to use it before you file and have it issued to you.

States only charge a few dollars to get a marriage license, which is why many people find it cheap to get married without the costs of an actual church ceremony. However, you face bigger expenses when you want to be divorced. You may be able to finance your divorce by using these options to get the cash you need to go to court or file the paperwork.




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