Nicole Noonan, CEO of New Chapter Capital, Helps Divorce Clients Afford Legal Help
Divorce is emotional, confusing, time-consuming, expensive, and above all else — stressful. While no one can wave a magic wand and make divorce easy, we can (and should!) be cost sensitive and efficient — harnessing technology and modern techniques to save our clients money and time. This interview is part of Divorceify’s Innovator Interviews, a series sharing the stories behind today’s most cutting edge tools and approaches to divorce.
Divorce litigation is really hard, and it’s even harder when your access to savings is restricted and you can no longer afford to pay your attorney, hire experts, or even pay your monthly bills. Nicole Noonan is a former divorce attorney whose company New Chapter Capital helps divorce litigants even the playing field with access to divorce financing. There’s a reason Nicole is called “The Fairy Godmother of Divorce.”
What does your company do?
New Chapter Capital is the largest provider of matrimonial resolution funding.
What is innovative about what you do?
I brought the concept of divorce funding to the United States, thereby empowering clients with the ability to pay their legal fees, expert costs and reasonable living expenses [during their divorce]. The non-monied spouse can now operate on a level playing field. I am honored and humbled to be dubbed the Fairy Godmother of Divorce.
How does your innovation help divorce clients or divorce professionals?
We provide equality through equity. No longer does the non-monied spouse have to be backed into a settlement that is less than what she/he is entitled to.
Can you walk us through a typical day? (If there is such a thing!)
No two days are the same. Most of my day is spent meeting with law firms and clients around the country. Because we know divorce is not an easy topic to discuss between 9-5 we work early and late.
Why did you start your company?
I saw a need for funding in my own divorce practice. After many years of representing the non-monied spouse I knew there was a better solution out there. That is what divorce funding is!
What made you want to do things differently?
I worked with close friends that often could use financial help in order to pay legal fees, expert costs or living expenses during their divorce.
How did you bring your idea to life?
I found funding and started my own company, New Chapter Capital.
What challenges have you faced along the way?
Spouses that wished there was no such thing as divorce funding.
What has been rewarding about bringing your idea to life?
I love the thank you notes I receive.
Do you have any advice for others that have an idea for an innovative product or approach, but don’t know where to start?
Expect people to be skeptics. No is just a negotiating point.
Who is your role model or inspiration?
My mother, the strongest woman I have ever known.
How do you bring joy into your workday?
I truly enjoy working with people. It is what brought me to matrimonial law practice.
If you could reinvent your career and do something totally different, what would it be?
Ballet dancer (too tall).
Do you have a mantra or piece of advice you have received that helps you get through diﬃcult times?
“She who holds the wheel determines the direction” — Malcom Forbes
Divorce Sucks — with Laura Wasser
Love historical novels – Sisi: Empress On Her Own (written by Allison Pataki)
Favorite TV shows?
I Love Lucy
Who are your biggest supporters?
My parents, my grandmother, and my husband.