3 Ways To Pay For Your Divorce

Getting a divorce is not only emotionally draining, it can also be really expensive as well. You are going to have to pay your divorce attorney a retainer in order to secure their services. Fortunately, some divorce attorneys will allow you to work on a payment plan to build up your retainer. When you find an attorney, work with them to come up with monthly payment plans and a timeline. First, though, you have to figure out how you are going to pay for your attorney.

#1 Take Out a Personal Loan

One way to pay for your divorce attorney is by taking out a personal loan. Taking out a personal loan will allow you to get the money you need without having to ask anyone else to spot you the money.

If you have a great or good credit score, you shouldn't have a problem finding a bank or credit union that will be willing to work with you towards a personal loan. Personal loans usually have shorter loan repairmen periods, so make sure that you will be able to afford the monthly payments for the personal loan. Be sure to take into account how your income and cash flow may change as you lose your spouses' income during the divorce.

#2 Use a Credit Card

Another way to pay for a divorce attorney is with a credit card. You can even use a joint credit card. When you use a joint credit card, you will need to continue to make the minimum payment on the credit card as you go through the divorce process.

As the divorce is finalized, the judge can then order you to pay the lawyer fees on the credit card or order your spouse to pay them. This can be a good strategy if you think the judge may have your spouse pay your attorney's fees in the end. This is a better option if you have a credit card with a low-interest rate as well.

#3 Borrow from Family

Third, you could see if you can borrow money from family or friends to pay for your divorce. As all of your expenses are discoverable, this can be a good way to keep your legal fees private from your spouse. If you pay with a credit card or joint checking account, you'll have to make a mandatory financial disclosure to your spouse about the fees.

Even when borrowing from family and friends, its best to set up a repayment plan in writing. Ask when they want repayment to start, if they will charge interest on the loan, what type of payment they want each month, and the maximum they will lend you for your legal expenses.

If you are getting a divorce, talk to a lawyer at a firm such as Winstein, Kavensky & Cunningham, LLC. about your payment options for the retainer and additional legal fees. You can take out a personal loan, use a credit card, or borrow money from your family to pay for your legal fees. If none of those is an option, you can see if the court will have your spouse pay your legal fees.