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Bank loan to finance divorce costs

6 replies

Gchnmum · 30/04/2017 19:28

Hi does anyone have any experience of obtaining a bank loan to pay solicitor costs. I approached my bank for a loan to help me pay my solicitor fees but they said they couldn't lend me the money unless I could give them a definitive figure on how much it is going to cost. I have spent £5000 which includes a lot of toing and froing with stbxh about child matters, I have only got to the stage of receiving acknowledgement of service. My solicitor has given me a worse case scenario of costs £70k but that figure is if we go to final hearing for finances and child matters. I just want to be divorced from this man as soon as possible . Has anyone managed to secure a loan from their bank for divorce costs?

OP posts:
CaptainM · 30/04/2017 21:46

Haven't gone for this (yet), but know Novitas is popular although they charge high interest rates. Repayment following settlement. Good luck x

longingforalife · 30/04/2017 23:44

Holy fuck - £70k !

Hermonie2016 · 01/05/2017 09:59

I was given an estimate of £25k for financial remedy.Where are you with finances? Have you tried mediation (guessing it's hostile if you've spent 5k already).

Is your ex high income as you have to balance costs with possible gain.
I am on the court route as stbxh has not been reasonable at all.

Most people settle finances pre final hearing, at directives since the judge gives indication of what is likely outcome.

BornStroppy · 01/05/2017 10:03

please dont lumber yourself with a huge legal bill if at all avoidable. you'll just be going from one prison straight into another.

70k is huge, my parents had a lot of money and top lawyers and plenty acrimony, and 70k was how much it came to between them.

Gchnmum · 01/05/2017 16:20

Thank you for your replies. We have tried mediation but I really don't think it is possible as exh is beyond unreasonable. My finances are straight forward I don't have any! I've been a sahm, for the last two years and was completely financially dependent on stbxh prior to separation. I have only just gone back to work and have had to claim some help through universal credit. I borrowed money from my family to finance the divorce so far but cannot borrow anymore . My ex is fairly decent earner he hasn't disclosed any finances and has been stalling since the beginning of the year.

OP posts:
BornStroppy · 01/05/2017 17:55

my dad stalled deliberately to wear my mum down. be very careful of which letters are needed, they will charge for absolutely everything.

legally you can force a full disclosure of assets - my dad had hidden money and we tracked it down. it didnt quite offset the cost involved though.

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