Company Offers $10,000 for Your Dream Wedding
Most couples enter into marriage believing it will last forever, and a new company invites them to bet on it.
SwanLuv is a Seattle-based company that offers couples up to $10,000 toward the wedding of their dreams. Remain married, and the money is yours to keep. But if you divorce, you must repay the funds—with interest.
You might think this business thrives only if marriages fail. Not so, according to the website. All the money collected from members who divorce is used to provide funds for future couples’ weddings.
“SwanLuv keeps the dream alive,” the website states.
The company makes money from advertising partnerships.
Here’s how it works: you apply online and once you’re approved, you electronically sign the wedding fund agreement and receive your money. Some may say the company roots for marital success by offering free marriage counseling.
“I guess we should applaud the entrepreneurial spirit behind this,” says John Griffith, an Encinitas divorce lawyer. “I just wonder how much additional stress this could cause in the event of a divorce.”
We don’t want to come across as having a “glass-half-empty” mindset, but statistics show a significant number of marriages end in divorce, even though recent studies have shown that the belief that half of all marriages end in divorce no longer is correct, according an article in The New York Times.
Divorce alone is tough. There are assets to be divided, spousal support must be determined, and lots of parenting details must be worked out if children are involved. Quality of life, as well as the lifestyle to which you’ve become accustomed sometimes changes after divorce. Add to that the responsibility of paying off a $10,000 loan that has accrued years of interest, and that’s a considerable amount of debt that the divorcing couple must address.
Still, it’s a pretty sweet deal to receive $10,000 free money if your marriage beats the odds. SwanLuv’s websites indicates it is taking applications now. Couples must marry within two years of signing the agreement. The company is slated to launch officially in early 2016.