Finances

​There are two ways (at least) finances come into the picture with child sex abuse.  First, there is the cost of sex abuse to the victims and society.  Both are astronomically high and argue strongly for a strong dose of prevention.  These figures also show us how important it is for victims and their families to manage their finances so as to be able to secure the therapy and medical treatment that can arise from child traumatization and the secondary traumatization family can experience.

Second, CHILD USA works very hard to ensure victims of sex abuse receive justice through statute of limitations reform as you can see here.  The American system permits those who have been harmed to sue the people and institutions who harmed them.  The compensation the victims receive is to make up for the hurt done to them.  It’s all about accountability.  And it’s just fair!

One of our concerns is that survivors get thrown into lawsuits and settlements through statute of limitations reform or institutions declaring bankruptcy, and suddenly, they have compensation.  Yet, they may well still be dealing with the effects of the abuse and aren’t prepared to make decisions about funds that, frankly, will likely be needed in the future.  Under rules of professional responsibility, the survivors’ lawyers cannot recommend financial advisors to them.  Too often, the survivor receives a check but does may make the most-informed decisions for investment or savings for the future.

Sometimes survivors view the funds they receive from those who caused their abuse as tainted, and throw them away, or think they can only use them to help others.   If the settlement becomes public, too often, “friends” or long-lost family members will show up out of the blue to ask for “loans” or other help.  My advice to victims is that they don’t have to tell the public how much they received in a settlement.  That’s their private information.  And usually, it’s not productive to publicize it. The truth is that most survivors should consider how to protect these funds for their own future needs, and the future of their families.  Trauma has a way of revisiting one, and having a financial cushion can be a comfort.

May you find true justice and healing.

— Prof. Marci Hamilton, Founder/CEO of CHILD USA

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