Can litigation lending help cover costs of a divorce? | Lane & Lane, LLC
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Can litigation lending help cover costs of a divorce?

New Jersey residents may have heard media coverage of a company that seeks to ease the divorce process for certain high-asset clients. BBL Churchill has identified a niche market in the lending world, and is positioned to fill that void with a specialized form of litigation lending. Those who are approaching a divorce filing but unsure how to cover their legal expenses may want to read further to see if this form of lending may offer a solution.

The company gives loans to clients, primarily women, who are seeking to leave wealthy marriages. The short-term loans are granted to cover the costs of securing legal counsel, but they can also be used to pay for living expenses while the divorce is underway. For clients who are accustomed to a high standard of living, these loans can help them seamlessly transition from married to single.

In addition, BBL Churchill also offers the services of a former divorce attorney. She serves as a consultant, advising clients of their lending options and what to expect as their divorce process wears on. The media have heralded her as the 'Fairy Godmother' for well-heeled spouses who fear the divorce process.

Once the marriage is legally ended, the loan is repaid using proceeds from the property division process. While many New Jersey spouses may shy away from the idea of borrowing to pay for a divorce, there are instances in which this may be the only way to have the funding necessary to fight for a fair settlement. In the end, the cost of borrowing may be far eclipsed by the long-term financial benefits of a desirable divorce outcome.

Source: ABC News, ""Fairy Godmother" Levels Financial Playing Field in Divorces," Linsey Davis, July 9, 2013