While financing has long been available for Plaintiff’s in personal injury cases, the same has not been true for people going through a divorce. The Economist reports here http://www.economist.com/news/business-and-finance/21694473-firms-who-lend-people-seeking-end-marriage-are-attracting-interest-inside?fsrc=scn/tw/te/bl/ed/insidethegrowingbusinessofdivorcefinancing about the growing industry of consumer based loans to finance legal fees in a dissolution of marriage.
In Kentucky, Family Courts are authorized to advance or order reimbursement of fees and costs if there is a disparity in financial resources. Ideally, both parties have equal access to counsel and other professionals. This means that both parties have access to the same amount of money to pay for their lawyers, accountants, business appraisers, psychological evaluators, etc..
In reality, this does not always happen. If one party is willing to cut off the access of the other to money, then the party in the dark can be left unable to pay for fees and costs. Sometimes, the Courts take a “wait and see” approach, leaving the issue of fees until the end of the case. This makes it very difficult for the financially adrift party to get the help he or she needs.
Could this type of financial service be on its way to Louisville? Time will tell.