Recession and Divorce: Is your ex spouse using the Recession as a big fat excuse to get out of paying you?
Everybody all over the world chants “RECESSION RECESSION!” every chance they get. The recession is blamed for everything from weight gain to laziness to, of course falling housing prices and joblessness. Some of these are legitimate gripes, of course. I am not trying to downplay the problem. It’s real. It affects many many millions of people on a daily basis.
But is all of the cavilling legit? And what about in the context of divorce? Are wealthy spouses really as hard hit as many of them are claiming to be in the U.S. and Europe, for instance? Many of them are using the recession to get out of paying their spouses.
I was reading here http://www.independent.ie/business/personal-finance/boom-times-over-for-irish-divorce-court-settlements-1720360.html that even in Ireland affluent husbands are trying to get out of paying hefty settlements to their wives, just like in UK and here in the US–and other parts of the globe as well.
One attorney who was interviewed for the above piece mentioned the notion that the RECESSION should not be used as this vague excuse for why a spouse cannot afford to pay the settlement as ordered. And I got to thinking that indeed, the recession is being thrown around by EVERYBODY and in some cases may be used as an EXCUSE when, in fact, there are alternatives and options which would have been explored had there been no RECESSION to blame for the lapses and failings.
Plus, I am starting to think that the RECESSION is a mental thing. It started here in the US and spread around the world. We started to get tripped by our own minds, to think we couldn’t somehow cope financially. Everybody caught the bug. It was like an outbreak in other words, a really bad case of swine flu. But just like we mentally tripped ourselves to this recession, I think we can mentally trip ourselves out.
In the meantime, people getting divorced or who are divorced need to stop throwing the RECESSION around as some sort of excuse for why they should get out of paying their spouses. We all know that for many people it is not as bad as they are saying. Look, folks, some people actually made money during the recession. What a concept, right? Here in New York, our billionaire mayor Michael Bloomberg made several billion dollars more during the RECESSION and climbed up the Forbes List of Billionaires.
So, you know what? I don’t wanna hear it. I am tired of this RECESSION being used as an excuse for everything. If you’re rich, you’re rich. Pay the settlement and let your spouse move on with their lives. You and me both know that in a couple of years, you are going to double your networth anyway. So hush. Pay up. Stop making RECESSION excuses. I see through you.
Original version published 4/27/09
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