The skinny: Divorce can be expensive. Putting it on a credit card can be even more expensive. Find an attorney that is willing to work with you on payment and, no, putting it on a credit card is NOT best answer. So, ask, Ask, ASK your attorney about payment options.
Let's face it, not everyone has enough cash on hand to plunk down a hefty retainer to pay their Family Law attorney. Or, maybe you do have the cash but you can't access it because your spouse controls it...for now. Either way, or any other way, don't let that stop you when it's time to reach out to an attorney about getting a divorce or even a legal separation.
Ask about payment options. Of course, paying cash is usually a good idea. And, almost all attorneys will accept credit card payments. Unless you can pay it off right away, you're going to pay interest on those dollars. As of October 2, 2023, the average credit card interest rate 28.06% according to Forbes Advisor's weekly credit report. Maybe you've got super "excellent" credit and so your rate is lower, say 20% interest. That's still going to add up over time and you're getting a divorce. How soon do you really think it's going to take you to pay that off?
Ask about alternative payment options. Many attorneys will agree to accept monthly payments over time for an interest rate around 12%. That's a darned site better than 18 to 28% interest. But, what if you are not certain you will have sufficient cash flow to keep making that monthly payment to the attorney. Remember, you're getting a divorce. Your household budget is going to be changing and usually not for the better.
Ask about a very specific payment option. A lot of attorneys I know will accept their payment in the future for a 12% interest rate. Depending on the attorney, you might still have to pay the "out-of-pocket" costs as you go (e.g., the few hundred dollar court filing fee). But, you will be able to delay payment of the remainder of your legal fees until the marital home is sold, or some other future date. So, no regular monthly payments until the defined "time" arrives.
Of course, the option to pay your attorney is NOT a CONTINGENT option. Your attorney is providing your with a complicated, detail oriented, and valuable service. You will need to pay for that service. When you need to pay over time, it just makes more financial sense to do it in a way that doesn't unnecessarily burden your future financial picture.
Let me know if you'd like to chat about this in more detail.
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