Most of the news about domestic violence focuses on physical
abuse. But, not too many think of the hidden abuses that survivors and families
face.
In
some cases, fiscal – or financial – abuse can be just as debilitating for a
domestic violence victim as physical abuse. The question, “why doesn’t she just
leave” is often asked, and one of the answers to that question is finances.
·
Where
will the survivor turn with no money?
·
If
kids are involved, how will she provide for them if she does not have a job?
·
How
can she apply for any mortgage or lease with damaged credit due to the abuser’s
economic abuse?
These
are questions that come up in 98 percent of abusive relationships. Economic
abuse can take on different forms. It could be the abuser’s complete control
over the finances, forcing the victim to ask for even a little money or as
drastic as intentionally destroying the victim’s credit through credit charges
or false claims.
In
an article in Forbes Magazine earlier this year, a survivor describes
her domestic violence relationship. While she was put on bedrest during her
pregnancy, she quickly realized how much her husband was controlling the family
finances. Spending more time at home, she started seeing credit card bills and
eviction notices in the mail.
When
she was able to go back to work, her husband went as far as calling her employer
to find out exactly how much she was making. Things got progressively worse and
escalated physically. In the end, she left him, but realized she had no
economic knowledge. She applied for a job at a bank “on a whim” she says. Now,
she is divorced, doing better financially and has a decent savings account.
Stories
like this are not unlike those we hear from the survivors and families we help.
Just
recently one survivor told Hope House supporters of a time when her husband
became physically abusive after finding her secret stash of money she was
slowly accumulating in a safe place so she could afford to leave with her
children.
The
stress of worrying about finances greatly restricts the victim from being able
to escape. It destroys self-esteem because the survivor cannot provide for
herself or children. And, it could even ruin the survivor’s financial future if
her credit has been seriously damaged.
The
economic impact of domestic violence is staggering. According to several
studies, domestic violence costs the U.S., $8 billion annually in medical costs
($5.8 billion) and lost productivity ($2.5 billion).
The
National Network to End Domestic Violence includes a list of examples of
financial abuse on its website. Some include:
-
Not
allowing the victim access to bank accounts
-
Withholding
funds for the victim or children to obtain basic needs such as food and
medicine
-
Stealing
the victim’s identity, property or inheritance
-
Withholding
money or giving “an allowance”
-
Filing
false insurance claims
Tips
to consider if you or someone you know is in a financially-abusive
relationship:
-
Start
acquiring all financial information for you and your family, including: birth
certificates, bank statements, and other personal documents. Keep them with a
friend or somewhere safe outside of the home
-
Get
a copy of your credit report. You are able to get one credit report free of
charge annually. Check with the three main credit entities (Equifax, Experian,
Trans Union) for details
-
Find
ways to earn a little cash on the side and have someone keep it safe for you
-
Work
on your budget if you were to leave and plan accordingly
And
lastly, if you have more questions, contact our hotline at 816-461-HOPE (4673).
If
you would like to support survivors and families of domestic and financial
abuse, check out the Purple Purse Challenge fundraising page at www.crowdrise.com/hopehouse3.