Financial Abuse Associated with Domestic Violence

Posted October 29th, 2018 by .

Categories: Domestic Violence.

Financial Abuse Associated with Domestic ViolenceDomestic violence can take on many forms of abuse. Most people only see the physical horrors that abusers put their victims through, without ever considering the emotional or psychological damage. Be that as it may, there are other forms of domestic violence that are constantly overlooked.

Financial abuse is a common form of domestic violence used by abusers to gain control over their spouse or partner. This kind of abuse may be more subtle than other forms of violence, but those who look to gain control use tactics to conceal their partner’s information, limit their access to certain assets, or reduce access to their finances.

While all domestic violence includes behavior meant to manipulate, intimidate, or threaten during any point of a relationship, financial abuse may become more present when a victim attempts to leave his or her abusive partner. Even though financial abuse is less commonly understood, it’s still one of the most powerful methods an abuser can use to control their significant other.

According to research, 99 percent of domestic violence cases have shown to indicate some form of financial abuse. The top reason for this is the victim’s inability to financially provide for themselves and their children. This lack of financial stability causes them to go back to their abusive partner time after time.

What Are Forms of Financial Abuse?

In most domestic violence cases, financial abuse tends to start out slowly and progress over time. It could be something as simple as your partner wanting to ease your mind from the stress caused over your finances. He or she takes charge of your account(s) for a while and all of a sudden you are no longer in control of your own bank account. Your abuser may have even moved all the funds to his or her account or closed your account entirely.

Then there are cases when the abuse is more over-the-top. Abusers will use or threaten to use violence to keep their partner from accessing their finances. This type of abuse can range from forbidding a victim from working to controlling how their money is spent on a daily basis. There are some instances when the abuse can become extremely serious:

  • Stealing the victim’s identity, property, or inheritance
  • Ruining the victim’s credit score
  • Forcing the victim to file false insurance claims or fraudulent tax returns
  • Running up large amounts of debt on the victim’s account

The above-mentioned are just a few examples of financial abuse that victims may suffer from. There are countless ways for abusers to manipulate their victim’s finances.

What is the Impact?

Financial abuse can have short-term and long-term effects on each person who is victimized by an abuser. Those who suffer in the short term may feel unsafe because of their sudden lack of finances. Without easy access to money, victims are often unable to provide for themselves and their children. Being homeless becomes a major fear for victims as well.

In the long term, victims who escaped from financial abuse still have plenty to overcome. Poor credit scores, legal issues, and periods of unemployment can make it extremely difficult to gain financial independence and security.

We Can Help

Are you a victim of financial abuse in a violent relationship? It’s time to act now before you lose access to what is rightfully yours. The Law Offices of Anthony Carbone has been helping victims of domestic violence in New Jersey for thirty years. Contact our offices today. The consultation is confidential and free.

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