We’ve all heard of lenders who specialise in providing loans to personal injury litigants in anticipation of a settlement. These companies advance funds to the plaintiff at a substantial discount to the amount estimated to be recovered in the final settlement. see this Alberta Divorce Finances
Divorce judgements are governed by the same basis. Get your cash now and worry about your divorce afterwards.
This isn’t for people with middle-class marital estates, mind you. Rather, this revolutionary new sector is forming on the left and now the right coasts for married couples with estates worth more than two or three million dollars.
Balance Point Divorce Funding of Beverly Hills, CA, for example, was founded last year by an attorney, Stacey Napp, using assets from her own divorce.
Churchill Divorce Finance, a firm preparing for a mid-winter start with the promise of “levelling the legal playing field,” appears to be the winner in New York City.
Each of these lending companies will specialise in lending money to divorcing couples who hope to walk away from the family court with a substantial sum of money; in some cases, millions of dollars. It’s hard to believe, yet those people exist in Michigan.
One benefit of such firms is that a “non-earning” spouse might get money to hire lawyers and forensic accountants to look for hidden assets or “cooked” books in the family business.
For others, it’s simply a way to earn money now so they can start living their new post-divorce lifestyle. A little money up front can go a long way in many circumstances.
Timothy P. Flynn has been practising law in Michigan since 1988. Contact this author for a free consultation if you have a difficult family law, criminal law, or probate problem.