Finance Your Divorce
The average person
does not get married thinking the marriage will end in a divorce. At Meriwether
& Tharp, we understand that divorce is usually an unexpected expense. Although
there are things a person can do to lower the cost of their divorce, there will
be costs which cannot be avoided.
Loans and Credit Cards
Clients commonly consider the option of credit cards or personal loans when considering ways to finance their divorce.
Credit Cards
Credit cards allow
an individual to spend up to a certain limit. If the monthly balance is not
paid off, that balance is carried over to the following month and the borrower
pays interest on the balance. The interest rate for a credit card is generally
higher than a personal loan.
Personal Loans
If you qualify for
a personal loan, you will generally receive a set amount of money and are
expected to make fixed monthly payments to pay back the loan. The monthly
payments on a personal loan are made up of interest payments combined with a
portion of the loan principal. While the smaller, fixed payments on a personal
loan are easier to manage in a monthly budget, it can be more difficult to
qualify for a personal loan.
Affirm through Law Pay
In order to make
quality legal representation more accessible to our clients, Meriwether &
Tharp now offers Affirm through Law Pay. This allows clients to borrow the
money they need to pay for their divorce and pay the money back over time.
Affirm's simple divorce financing application can be completed quickly online. You will be
asked to enter your name, email address, and the loan amount, and you will receive a fast decision without affecting your credit score.
Once your loan
application is accepted, you may choose from 3 payment options (6, 12, or 24
month), which list interest rates and predictable monthly payment amounts to best
meets your individual needs.
Written by: Rebekah
Ann James