- Cash - if you’d still have enough of it left over to get your new life started after the divorce.
- Credit Cards - if you’ll be able to make the monthly payments and your interest rate isn’t exasperatingly high! Or, if you have cash but also have a rewards credit card (i.e. United Airlines), why not use your credit card to pay the bill and get a free trip of a lifetime? (Then use the cash to pay off the bill.)
- A Bank Loan – drawn upon the equity in your house, your business or if possible, an unsecured personal loan.
- Your Husband’s Money – believe it or not, in some states a spouse can be ordered to pay the other spouse’s legal fees. Ask your prospective lawyer if he or she thinks this is an option.
- Your Marital or Joint Bank Accounts - Ask your prospective lawyer if he or she thinks this is an option. Also, ask him or her to explain the potential risks and downside, if any, to this approach.
With respect to any and all of these options, we suggest you weigh the pros and cons very carefully and ask your lawyer and a financial adviser for advice. If possible, avoid incurring any debt that is secured against your personal assets or reduces your equity.
This article is not legal advice. You should consult an attorney if you have legal questions that relate to your specific divorce.
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