Two New York City marital attorneys, Michael Stutman of Stutman Stutman & Lichtenstein LLP, and Nicole Noonan of New Chapter Capital Inc., have a difference of opinion when it comes to affording the cost of a divorce. 

Noonan supports divorce funding to finance the cost, while Stutman does not.

Divorce funding is a relatively recent addition to the arsenal of financial options available to pay for a divorce, which also includes hiring an attorney on a contingency basis or financing the cost through a credit card or bank loan. 

Spouses seeking a divorce can now afford to litigate the financial outcome they feel they deserve by leveraging a portion of any award, settlement, legal fee or judgment in their favor to third-party financial companies offering them a cash advance to cover living expenses and the cost of professional legal and expert witness services.

In separate emails, Stutman and Noonan debated the pros and cons of financing a divorce through divorce funding.

Stutman earned his J.D. degree in law from the University of Tulsa College of Law. He has more than 20 years of legal experience, most recently as a partner of Stutman Stutman & Lichtenstein, a law firm specializing in marital law. Stutman is also president of the New York Chapter of the American Academy of Matrimonial Lawyers, and is a member of the Matrimonial Law Committee of the New York City Bar Association.

Noonan earned a B.A. degree from Boston College and received her J.D. from Seton Hall University School of Law. From 2013-2014, she served as president of National Divorce Capital Inc., a company she co-founded. In 2017, she became CEO of New Chapter Capital, which bills itself as the country's largest provider of matrimonial resolution funding.

New Chapter Capital does not screen for divorce funding eligibility based on a litigant’s ability to make monthly repayments, which levels the playing field for the non-monied spouse and enables that person to engage qualified attorneys and experts for their case.

Despite those advantages, Stutman views divorce funding as a means of financial self-sabotage.

“You are borrowing your own money from yourself and paying a third-party interest in order to do so,” he said. “The amount of the funds available to you is based on the lender’s estimate (guess?) as to what you might ultimately receive upon the resolution of the matter.”

First « 1 2 3 » Next