Criminal charges can weigh heavily on you due to the financial implications that come with them. As your case unfolds, legal charges may increase beyond what you had earlier anticipated. When you are looking for legal representation, you need to weigh a number of things, including the profile of the law firm you are considering hiring in terms of their skills, experience, and legal fees.
In most cases, legal fees will supersede other factors when choosing the defense attorney to represent you. But even if you do not have a lot of money, there are many avenues you can use to finance the defense fees. Here are six ways in which you can finance your defense attorney fees.
1- Retirement Fund
If you have an Independent Retirement Arrangement (IRA) or 401(k) with your employer, you can use part of the money to pay your defense attorney. However, the IRA institutions might slap you with a hefty tax or a fine for withdrawing your IRA fund. You can take a loan from your 401k account, and it’s even better because it does not attract high-interest charges.
2- Selling your Car
You can consider selling your car to finance your legal fees. You need to remember that if you are convicted, you will be incarcerated, and hence you will not be in a position to use your car. It may therefore be necessary to make an arrangement with your defense attorney around that. Some law firms even accept cars as collateral, and hence you may need to explore that option.
3- Friends or Family Members
Whenever you are in trouble, the first people that come to mind are your close family members and friends because they are the ones who can walk with you in times like these. They can help you raise the legal fees in case you are facing a lawsuit.
4- Credit Card
If you do not have ready cash, you can use a credit card to settle your defense attorney fees. A credit card allows you to settle your defense attorney fees then pay the lender back with interest on the loan.
5- Take a Salary Advance
If you are employed, you can ask your employer for an advance to help you settle the legal expenses. You can, after that, repay the advance with your next paycheck. You do not have to let your case stall when you can talk to your employer for advance payment.
6- Apply for a Loan
Has a lawsuit caught you flat-footed, and you are wondering what to do? Financial institutions can be your savior. Why not talk to your bank to lend you some money to pay the legal fees. The loan is worth it because you want to hire the right attorney to represent your case. At the end of the day, you want to ensure that you have given yourself a fair chance to win the case. Therefore, getting a bank loan is a cause worth pursuing because you cannot compare finances with your freedom.