Some individuals in New Jersey have found out the hard way that not all abuse is physical or emotional. Abuse can be financial too. Some abusers realize that an individual’s finances are a pivotal part of life, so that by manipulating finances, abusers may possibly gain utter control over their victim.
Financial abusers employ a wide range of tactics to exert their dominance. This is especially true in cases where the victim is financially dependent. Abuser may give their victim an allowance that tapers over time while, manipulating the severity of the dependence. Sometimes, abusers who are married to their victim over-assert their control over their spouse’s financial decisions so as to keep their victim from accessing the family’s financial assets.
Other forms of financial abuse include efforts that prevent victims from gaining or keeping employment and schemes to sabotage their credit score. In any case, the long-term and short-term ramifications of financial abuse can be debilitating. Victims are left in the ruinous state of the destitute, lacking the cash, employment, access to financial assets and credit score to rebuild their lives. For older victims who have diminished earning power, economic independence and long-term financial security may prove to nearly impossible to regain.
Many victims need assistance. It can be difficult for people suffering any type of domestic abuse to free themselves from their situation, and that includes financial abuse victims. However, a family law attorney may help. Through the advocacy of an attorney, victims may obtain a restraining order against their abuser and file civil action to recover financial assets and other property.
Source: National Network to End Domestic Violence, “About Financial Abuse“, December 31, 2014