Divorce Settlement Finance
Make the transition into the new part of life easier.
Going through a divorce is trying process and, having finances tied up pending final registration in court, can leave you with cash flow issues during this time. Bayside Finance Solutions can relieve this pressure with our Divorce Settlement Advance service. Funding of up to 50% of the cash settlement due to you can be attained to assist you in your new phase of life.
What is a Divorce Settlement Advance?
Bayside Finance Solutions offers a unique Divorce Settlement Bridging Finance service for those going through a divorce, advancing funds due to you prior to your divorce settlement to assist your cash-flow.
What percentage of these funds do we offer?
We advance up to 50% of the cash amount due to you, the divorcee, up to a maximum of R200 000.
How does Divorce Settlement Bridging Finance work?
Once a signed application is received, a credit check on the applicant is carried out. An Attorney’s Letter of Undertaking will then be requested in the format acceptable to the Bayside Finance Services.
Once this is completed and all results are returned, the agreement will be reviewed by the Bayside Finance Directors. If approved, the funds will be transferred. The client will then be contacted to ensure that they have received their funds.
What are the qualifying criteria for Divorce Settlement Bridging Finance?
The following requirements need to be met to apply for a Divorce Settlement Agreement:
- A copy of the singed Settlement Agreement;
- Confirmation from attorneys that they are holding the funds due to the client in their trust account;
- Confirmation of the court date for the divorce to the finalised;
- Letter of Undertaking from the Divorce Attorney.
How does the repayment of Bridging Finance work?
Once the divorce decree has been issued, we will request settlement of the advance through an attorneys. The attorney will then deposit the funds directly into Bayside Finance Solutions bank account.
Visit our FAQ page for more information on Bridging Finance
032 815 1114