We all know that the current cost of living crisis is impacting families, and putting more pressure on Australians in so many ways. A recent survey found that 56% of families with children under 18 are currently reporting high levels of distress due to financial pressures, with the cost of living crisis and personal debt being cited as the most significant contributor to personal distress by 46% of respondents to the Suicide Prevention Australian Community Tracker.
Unfortunately, increased financial pressure correlates with an increase in relationship breakdowns and, tragically, during the first 5 months of this year we have witnessed an escalation in family violence. Many of these victims remain in relationships because they simply don’t have the financial resources to move out or pay legal fees to formalise their separation. They feel trapped and are unable to seek a fair and equitable outcome. A recent report from Homelessness Australia found that 45% of women and girls seeking assistance have done so in the context of family violence.
How can Family Lawyers Play a Role in the Solution?
One of the most important things for family lawyers to do when they are onboarding vulnerable clients is to provide flexible payment options from the start of their matter. This empowers clients to have the financial security they need to proceed with a matter in a timely manner, and with the confidence they can work with their lawyer to obtain a fair and equitable outcome.
One speciality provider for family law financing is JustFund. JustFund currently works with 500+ family law firms nationwide to offer clients an innovative and flexible line of credit to pay legal bills & disbursements. Unlike traditional lenders, JustFund doesn’t rely on credit scores, employment history or income when assessing an application, allowing clients to get the advice they need and repay only when their case resolves.
Providing clients with information on payment options gives them a sense of empowerment and financial independence
Many family lawyers find conversations around fees uncomfortable, and therefore do not ask the hard but important questions in initial consultations, or raise the option of funding. This is to the detriment of clients who often suffer in silence, are forced to borrow from family or friends, sell assets or pay for legal bills using less flexible credit cards.
Providing flexible payment solutions enables law firms to turn away fewer clients, but more importantly it’s an easy tool for helping clients to stay safe; enabling them to stay in their home or use current funds to move out by removing the burden of paying for legal fees until their case reaches settlement.
Easing the financial burden for clients also leads to enhanced client satisfaction, stronger client-lawyer relationships, and a potential increase in referrals, further contributing to the firm’s growth and reputation. For more information on legal funding contact JustFund at 1300 644 980
