Collaborative Divorce Procedure – The answer to all your debt issues?
What is divorce? It’s similar to an amputation: you endure it, but there’s less of you. End of a marriage can take a heavy toll on your emotional as well as financial health. Getting separated
from your spouse could be a traumatic experience even if you’ve started off with the procedure. Uncertainty about your financial future and repentance regarding your past can leave you feeling lonely and frazzled. Although an important part of your life is coming to an end, you need to stay focused for making the most of your fresh life. For a majority of the couples, dealing with money in the court is one of the toughest things. In their happier days, couples might have used their credit cards for buying a lot of things. Regrettably, none of them paid any attention to make the credit card payments on time. Consequently, they might have accumulated a massive amount of credit card debt. Although a non profit debt consolidation company can help you out with your debt problems, things aren’t that easy when you’re undergoing a divorce process.
Divorce could be financially taxing for both the parties involved in the process. Many a times, couples jointly agree to terms without the time and cost that a regular court procedure involves. A collaborative divorce is a procedure where a divorce agreement is reached outside the court premises. The parties are represented by their individual lawyer; here, a judge doesn’t decide the terms, but the parties work mutually toward a common agreeable decision.
What is a collaborative divorce process?
Collaborative divorce is a prearranged type of alternate disagreement resolution for getting a divorce. This divorce process is intended to avoid the usually extensive, adversarial, and costly method of a litigated divorce. Here, the couples move through the divorce process quickly, save cash on attorney fees and reach agreements on property allotment and child maintenance that both parties may find good enough. The couples need to reach a decision on how they wish to proceed and whether or not they need to take help from the divorce experts. While there are couples who brawl with their lawyers to get what they want, there are others who agree to the division of the property made by the attorney and share the kid’s guardianship (if they have any). Couples who hold differences in opinion on matters such as child custody, property allocation or support of the spouse can undergo collaborative divorce by hiring a negotiator who would aid them in sorting out their arguments. When the couples possess unpaid debts, they need to make it a point to pay it off soon so they can lead a debt free life even after separation.
Collaborative divorce procedure – Solving the financial issues
When trying to solve their fiscal issues, it’s important for both the parties to understand their economic situation, plan and develop options that can solve their problems, and then choose the alternative that’ll serve the requirements of both the parties separately and of the family too. One of the big advantages of a collaborative process is that, both the parties work in collaboration with a financial advisor. Financial advisers who hold sufficient experience in accounting or finance can assist both the parties in collecting and understanding information on their debts and property.
From time to time Mankatolawblog.com accepts well written guest blogposts, this one is well written by Sophie Kinsella.