Financial
abusers gain power and control by limiting their partners’ access to cash and
other assets or by concealing information about finances. It is one of the most powerful methods of
keeping a victim trapped in a relationship and greatly reduces her (his) ability
to subsist after leaving. Survivors report
that concern over their ability to provide financially for themselves and their
children was a major reason for staying in or returning to an abusive
relationship.
Common methods used by financial abusers include:
·
Controlling how all of the money is
spent & not allowing the victim access to bank accounts
·
Withholding money or giving “an
allowance”
·
Refusing to pay bills and ruining the
victim’s credit score
·
Forbidding the victim to work or refusing
to work or contribute to the family income
·
Running up large amounts of debt on
joint accounts
·
Not including the victim in investment
or banking decisions
·
Hiding assets
·
Stealing the victim’s identity, property
or inheritance
·
Evading child support or manipulating
the divorce process by hiding or not disclosing assets
Those
who manage to escape financial abuse often face overwhelming odds against
success. Ruined credit scores, sparse
employment histories, and legal issues caused by the abuser can make it
difficult to gain – and maintain – independence.
