New form to help victims of economic abuse

According to the organisation Surviving Economic Abuse, 5.5 million women in the UK experienced economic abuse last year. Many victims typically owe money to multiple creditors. This means they are often required to share their traumatic experiences with each creditor.

A new Economic Abuse Evidence Form (EAEF) has now been introduced by 25 banks and building societies designed to simplify the process. Trained money and debt advisors can use the form to inform creditors that an individual has experienced economic abuse and explain the impact on their financial situation. It aims to ease that emotional burden by reducing the need for victims to retell their stories multiple times.

Anna Barrick, Paralegal in the Family Team at Coodes, explores how this new form can improve the experience for victims.

What is financial or economic abuse?

Economic abuse is a form of coercive and controlling behaviour that involves the control of a partner or ex-partner’s money, finances or the things money can buy. This could be anything from having to account for every penny spent to not being allowed access to matrimonial funds to buy basic groceries.

Whilst a lesser-known type of domestic abuse compared to physical and emotional abuse, it can be debilitating. It can make someone feel powerless and unable to leave an abusive relationship. Also, it can destroy their ability to rebuild their lives when they flee.

In many cases the abuser takes out loan and credit card debt in the victim’s name. This can have long term implications for being able to get a mortgage or any credit in the future. 

How can the new form help if you have been a victim of economic abuse?

The new Economic Abuse Evidence Form can assist those who have experienced financial abuse to obtain help in dealing with debts. It means victims can avoid the need to repeat the same information, which can be very triggering. 

Coodes have a wealth of experience in assisting clients who have been victims of domestic abuse. Our specialist Family Law Team are able to identify where a client has been a victim of financial abuse. The form will be an essential tool in addressing a client’s concerns about their financial positions and deal with the debt the perpetrator has left them with.

At Coodes we want to assist our clients with taking back control over their own lives. Once financial abuse has been identified, clients will be signposted to organisations such as First Light or the Citizens Advice Bureau. They can provide the practical support and guidance required to complete the documentation.  

What help can you get if you are a victim of financial or economic abuse?

If you are a victim of domestic abuse, you may be eligible for Legal Aid, subject to your financial situation. At Coodes we will carry out a free initial assessment to assess your eligibility. If you are eligible, we can begin advising you immediately on what action can be taken to protect you. If required, we can make an emergency application to the Court to obtain protection for you and your children.

Coodes has close links with the police and domestic abuse support agencies throughout Devon and Cornwall. We will liaise with them throughout your case to ensure the best outcome for you and your family.

If you or someone you know is experience domestic abuse or sexual violence, you can get in touch with charity First Light who provide a range of support across Devon, Cornwall and the UK.

If you have any questions about how you can use the new form, contact Anna via email anna.barrick@coodes.co.uk or call 01726 874 762.