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Bank Loan to pay Legal fees?

  • Sera
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25 Sep 07 #3924 by Sera
Topic started by Sera
It was suggested that there are 'Banks' who will now loan for legal fees in divorce, and be re-paid from any settlement.

Anyone know which of the banks lend?

Since I only have matrimonial home Rights, and my husbands name only appears on the Deeds, can I borrow against our (Mortgage free) house?

Also,(since he's pushing me through all this rubbish, will this loan be mine to repay, or does it become a Marital debt?) I feel I shouldn't have to pay to keep up with his legal bullying!
There is no Divorce yet pending, so the loan (if I get one) will be from before his petition!

  • gone1
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25 Sep 07 #3926 by gone1
Reply from gone1
Sera. I have never heard of banks that would do this form of lending. Its seems very risky. Perhaps a sub prime would (ooops ;-))

I was thinking of getting a loan for my legal expenses. My partner talked me out of it (she is sensible) and I didnt. But I did ring up the mortgage company and tested the water. They didnt ask me what it was for or anything. It could have been for a late age crises Porsch boxter for all they knew. Ok banging again. Enough Chris

PS: Soz almost forgot. It is my understanding that all debt that is incured after sep is the person that run it up responsiblity. So I dont think you can float it. Soz.

  • Sera
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25 Sep 07 #3928 by Sera
Reply from Sera
Thanks Chris, I asked because of it being a fairly 'short-term' loan, (I have equity in the house).

I just don't want to repay a loan until after I get the lump-sum adjustment. I could always say it's for the Porsch Boxter. (He probably could've had three on the monies he's poured down the legal drain!)

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