By using a living expenses loan from a litigation funder, the borrower can repay the debt and have the reassurance of knowing it will show upon the asset schedule as a hard debt and therefore be much more likely to be taken into account.
As long as there is a clear route to repayment, many funders will also lend for proceedings relating to children or unmarried couples, and funding will extend to alternative dispute resolution such as mediation or arbitration.
This kind of funding puts a fair outcome within reach of an individual who may otherwise be unable to access legal advice of a similar calibre to that available to the financially stronger spouse.
Now that the UK is making no-fault divorce law, there are high hopes in the family law community that the focus will move away from the culture of blame and acrimony towards an emphasis on fairness of outcome and minimising the consequences of divorce for adults and their children.
- A new law was announced to introduce 'no-fault' divorce
- It is possible to get a loan to pay for the costs of a divorce
- The loan can be offset against the eventual settlement
George Williamson is managing director and Katie Alexiou, is a co-founder of Level, a family law specialist litigation funder