Lenders bankrolling court cases and keeping litigants afloat until final judgment – and collection – are nothing new really. In civil court.
But in divorce court and family court, they’re breaking new ground. Although they make perfect sense and there’s a huge need.
Millions of dollars in assets and / or revenues in businesses controlled by one spouse all too often allegedly disappear or shrink as soon as one of the couple wants a divorce.
Garnering the proof to support a truly equitable distribution of marital property can require considerable expertise and time from attorneys, accountants and investigators. And that costs money.
Money that one of the couple often does not have access to when needed. Enter private funding of contentious, high-stakes divorce cases for profit.
It’s a high risk business, but the rewards can be high too. Many charge a contingency fee (a percentage of the recovery) rather than interest.