Options Available To You For Divorce Financing
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It generally does not cost a lot of money to obtain a marriage license from the county and state. You may be able to exchange marriage vows for very little cash out of pocket. As inexpensive as it is to get married, it tends to be costlier when you want to end your union. Hiring a lawyer or going to court could cost thousands of dollars. Even if your case is simple and straightforward, you still may need to know your options for divorce financing.
Your first option could be to charge everything to a credit card. You can put the fees for retaining an attorney, filing paperwork, and more on a card that has plenty of credit available on it. While you face paying interest, you also might pay down what you owe for the case little by little without bankrupting your checking or savings account. You also could ask the court to include it in the judgment if you are asking for legal expenses and more to be covered.
If your cards are maxed out or you do not want to run them up for your case, you might go to the bank and ask for a personal loan. The loan officer will look at your credit rating, however, and possibly turn you down if your rating is too low. That result would force you to consider other options.
Some people might suggest that it would make sense for you to use assets that you own to acquire the money you require to file your case. For example, you could liquidate an extra car that you have in your possession. As long as the car has a clear title, you could sell it and use the cash to put toward your legal costs.
Your home's equity also might be at your disposal. Many banks will not look so much at credit ratings as they do the equity in your house. They know they can always move to foreclose if you default on the loan. Still, a home equity line may be a valid way to raise the cash and put it toward your marital dissolution. This type of loan generally gets approved fast so you can get it in a relatively short amount of time.
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.
Your first option could be to charge everything to a credit card. You can put the fees for retaining an attorney, filing paperwork, and more on a card that has plenty of credit available on it. While you face paying interest, you also might pay down what you owe for the case little by little without bankrupting your checking or savings account. You also could ask the court to include it in the judgment if you are asking for legal expenses and more to be covered.
If your cards are maxed out or you do not want to run them up for your case, you might go to the bank and ask for a personal loan. The loan officer will look at your credit rating, however, and possibly turn you down if your rating is too low. That result would force you to consider other options.
Some people might suggest that it would make sense for you to use assets that you own to acquire the money you require to file your case. For example, you could liquidate an extra car that you have in your possession. As long as the car has a clear title, you could sell it and use the cash to put toward your legal costs.
Your home's equity also might be at your disposal. Many banks will not look so much at credit ratings as they do the equity in your house. They know they can always move to foreclose if you default on the loan. Still, a home equity line may be a valid way to raise the cash and put it toward your marital dissolution. This type of loan generally gets approved fast so you can get it in a relatively short amount of time.
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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