Tag: Loans

Getting Personal Loans for Divorce Legal Fees

The end of a marriage is rarely any fun, and there are consequences that extend far beyond the emotional distress, many of them financial. A study by the legal website Nolo.com found that the average cost of a do-it-yourself divorce without a lawyer was $925. When lawyers got involved, the average jumped from $4,100 for an uncontested divorce to over $20,000 for a divorce that went to trial.

When someone doesn’t have the funds to pay legal fees and other expenses, it’s often possible to take out a personal loan to cover them. Divorce loans can be used for many of the costs associated with a divorce, allowing the borrower to repay the money over the next two to seven years. Here’s how these loans work.

Key Takeaways

  • Divorce loans are personal loans that come with fixed interest rates and fixed monthly payments. 
  • These loans work well for divorce costs
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